Zimbabwean citizens have reportedly accepted the use of plastic money as the shortage of the US dollar bites into the economy.
Reserve Bank of Zimbabwe Governor John Mangudya noted the growth in the use of plastic money saying about $5,5 billion moved through the electronic payment system from $5,4 billion moved in June.
Point of sale transactions grew to $19,3 million in June up from $18,3 million in May.
Volumes on the Real Time Gross Settlement system also grew to $4,5 billion in June from $3,9 billion in May.
“We thank Zimbabweans for a good response to the policy measures. So the measures are working and queues in the banks have shortened. We want to thank Zimbabweans for use the electronic payments systems,” said Dr Mangudya.
Money transfer platforms that include Ecocash, Telecash and One-wallet have greatly aided the public in day to day transactions.
- Herald
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