eBusiness Weekly
BH24 Reporter
HARARE – The value of transactions processed through the National Payments System (NPS) rose by 8, 8 percent during the week to May 18.
The country has experienced cash crisis since 2015 and the government intervened through the promotion, wide use of plastic money and electronic transactions so as to ease the liquidity crunch.
The Reserve Bank of Zimbabwe (RBZ) in its latest weekly review, attributed the increase to a rise in Real Time Gross Settlement (RTGS) transactions during the period under review.
“The total value of transactions processed through the National Payment Systems (NPS) increased by 8, 8 percent to close at $2 701, 75 million, during the week under analysis.
“This compares with the $2 483, 58 million worth of transactions recorded in the previous week.
“Transactions processed through the Real Time Gross Settlement (RTGS) system registered a 19, 2 percent increase, to close the week under review at $1 876, 73 million.”
The numbers show that RTGS payments accounted for 69, 46 percent of the total value of transactions processed through the NPS, followed by Mobile at 20, 53 percent; Point of Sale (POS) at 9, 89 percent; Automated Teller Machines (ATMs) at 0, 07 percent; and Cheque transactions at 0, 04 percent.
In volume terms, NPS transactions decreased by 8, 9 percent, from 36 837 489 in the previous week to close the week under analysis at 33 553 230 transactions.
Mobile-based transactions accounted for 79, 60 percent of the total volume of transactions; POS at 19, 89 percent; ATM at 0, 13 percent; RTGS at 0, 36 percent and Cheque at 0, 02 percent.
