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Mobile money transactions maintained a growth trajectory in the third quarter of 2019, as the market continues to embrace plastic money in the face of persisting cash shortages in the country.
According to Postal and Telecommunications Regulatory Authority of Zimbabwe (Potraz) sector performance report for the third quarter of 2019, there was a significant growth of 20 percent in mobile money transactions during the quarter under review.
The report shows that overall mobile money transactions grew to $575 million compared to $477 million recorded in the previous quarter.
The value of cash in transactions grew by 106 percent, while cash out transactions grew by 46,9 percent. EcoCash maintained its market dominance as it processed 99,7 percent of the total value of transactions, a marginal growth of 0,1 percent.
OneMoney remained flat at 0,3 percent of the total transactions processed during the quarter, while Telecash lost market share by a marginal 0,1 percent to process an insignificant 0,03 percent of the total value of transactions handled during the quarter.
According to Potraz, there was also growth in active mobile money subscriptions across all operators.
Online Reporter