Online Reporter
Debra Matabvu
Zimbabwe has recorded a surge in digital payments, with the value of retail transactions increasing by 35 percent in the second quarter of the year, while adoption of Point of Sale (POS) machines has also increased significantly, the Reserve Bank of Zimbabwe has said.
According to the RBZ, digital retail transactions have increased from ZiG66 billion during the first quarter of the year to ZiG89 billion during the second quarter, while digital transactions grew by 15 percent during the same period.
In addition, POS machines distributed in the market across the country also increased from 150 000 in March this year to 152 800 in July.
Since March this year, the RBZ has been distributing thousands of Point-of-Sale machines to informal businesses under a programme geared to promote tax compliance and facilitate the formalisation of previously unregistered businesses across the country.
A preliminary 2023 Economic Census report shows that Zimbabwe is dominated by informal micro-businesses, which account for 87.9 percent while only 23.9 percent are formally registered.
The central bank also directed local authorities to ensure that only businesses with functional POS machines and bank accounts are granted or allowed to renew operating licences.
Under the new initiative, which aims to integrate informal traders into the formal banking system, the monetary authorities aim to facilitate an increase in usage of the Zimbabwe Gold (ZiG), enhance digital transactions and foster financial inclusion.
In an interview, RBZ Governor, Dr John Musahayavanhu, said the country has, over the past few months, witnessed an increasing trend in the use of digital payments, including mobile money and online payments.
“Following the recent monetary policy announcement, there has been a notable and steady increase in the POS machines in the market from 150 000 in March 2025, to 152 800 in July 2025,” Dr Mushayavanhu said.
“During the second quarter 2025, the value of total digital retail transactions increased by 35 percent from ZiG66 billion recorded in the first quarter 2025, to ZiG89 billion, similarly in volume terms, digital transactions grew by 15 percent from 165 000 to 191 000.
“In addition to POS, there is also a growing trend in the use of other digital payments channels available in the market including Mobile Money, Faster Payment Systems (ZIPIT), contactless (NFC and QR Codes) and online payments.”
In line with Government policy, all businesses should be registered and formalised, and relevant Government agencies are seized with necessary processes.
The Reserve Bank will continue to engage and encourage relevant licencing entities and local authorities to enforce the requirement for businesses to have a POS or digital device to allow smooth provision of digital services.
Under the programme, local authorities have been directed to ensure that only businesses with functional POS machines and registered bank accounts are granted or allowed to renew their operating licences.
