Shops must not reject mobile money payments – RBZ

30 Jun, 2020 - 10:06 0 Views
Shops must not reject mobile money payments – RBZ

The Sunday News

Vusumuzi Dube, Senior Reporter
THE Reserve Bank of Zimbabwe (RBZ) has said it is illegal for shops and organisations to reject payment of goods and services in mobile money.

The  Central bank  last week suspended all bulk mobile money agents, reinforcing Government’s directive to suspend mobile money transactions over concerns that the platforms were being abused by errant business players to influence runaway inflation through manipulating the exchange rate system.

However, the directive has seen some shops in Bulawayo, especially in the High density suburbs rejecting payments using mobile money from customers.

Responding to questions from Sunday News, RBZ Governor Dr John Mangudya said the ordinary public could still use mobile money platforms the difference now being that the shops were mandated to then liquidated these payments via the banking system.

“The ordinary person is not affected. One can still use the mobile banking to pay for goods and services in a merchant or a shop and the shop then banks the money, therefore shops must continue accepting these mobile money payments,” said Dr Mangudya.

Giving clarity to the directive the RBZ Governor said all merchant transactions have been suspended except for receiving payments for goods and services as well as payment of utilities (water, power and airtime) but limited to $5 000 per day.

Government announced the suspension of cellphone-based money transactions last Friday, and launched investigations into allegations that they fuel black market transactions.

Share This: