zimswitch

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Zimbabwean Government scraps 5cents tax for transactions below $10

Those of us who make it a habit to study their bank statements carefully every week know that the government levies 5 cents on each and every electronic transaction that you make. We mean every transaction. For relatively high value transaction like a $10 purchase at a supermarket that seems like nothing. Paying 5 cents to the government every time [...]

By |2018-01-26T09:37:39+00:00January 26th, 2018|Categories: Business, Finance, News|Tags: , , |Comments Off on Zimbabwean Government scraps 5cents tax for transactions below $10

Zimbabwe’s financial systems buckling under pressure

The year long Zimbabwean cash crisis has seen more and more people resorting to plastic money and mobile money. The processing systems however are struggling to handle the rising demand. About two weeks ago the inter-bank processing system Zimswitch suddenly went offline leaving thousands of people stranded. Zimswitch allows shops and businesses to use swipe machines from their own banks [...]

By |2017-10-06T07:56:22+00:00October 6th, 2017|Categories: Business, Technology|Tags: , , , , |Comments Off on Zimbabwe’s financial systems buckling under pressure