Card-based transactions increase

bank_cardsBULAWAYO - There has been an increase in card-based transactions during the month of April 2009, a report by the Reserve Bank of Zimbabwe shows. In April card-based transactions totalled US$327,231.64, distributed as US$6 636.00 and US$320,595.64, were processed through ATMs and Point of Sale (POS) machines, respectively.


A total of US$91,790,191.01 was processed through the Zimbabwe Electronic Transfer and Settlement System (ZETSS).
The total value of mobile based transactions increased from US$25,862.11 in March 2009 to US$33 461.49 for the period under review.
The total Internet based transactions rose from US$252,227.05 in March 2009 to US$399,154.77 representing 58.25 percent increase.
In a move meant to minimise the usage of cash, commercial banks on Monday started issuing United States dollar-denominated cheque books.
In a statement, the Bankers Association of Zimbabwe said the US$ denominated cheque books were valid in Zimbabwe only and were not eligible for Zimbabwe dollar accounts.
Businesses and members of the public are advised that all commercial banks in Zimbabwe will start issuing US$ denominated cheque books to their valued customers with effect from Monday 17 August 2009, said BAZ in a statement.
Clients will be limited to making cheques up to a maximum of $200 for individuals and $500 for companies.

Post published in: Economy

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