POS Devices Increase Drives First Quarter Electronic Transactions To 368 million

By Alvine Chaparadza

The uptake of Point of Sale machines has exceeded the Reserve Bank of Zimbabwe’s expectations because of a 20 percent increase of POS devices in circulation. POS machines increased from 56 000 to 70000.

The drive to have 100 000 devices hinges on the government’s objective to increase financial inclusion by having a cashless society.

The cash shortages have forced people to spend hours at banks queuing for money and several small businesses across urban areas are still requesting the Reserve Bank of Zimbabwe (RBZ) to increase the number of POS devices so that they do not lose business.

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