adminZIMBABWE has registered a 54,2 percent growth in the value of mobile and internet based transactions in the nine months to September 2014, figures from the Reserve bank of Zimbabwe show.
In the monthly economic report for September, the central bank said the value of mobile and internet based transactions stood at $457,17 million in September.
This is from $296,56 million recorded in January. On a month-on-month, RBZ said transactions grew 7,9 percent from $423,62 million in August.
Mobile and internet based transactions have been growing as mobile network operators have came up with new product offerings to cater for diaspora remittances that form a big pool of internet based transactions. Analysts say the introduction of the debit card and international money transfer service, Ecocash Diaspora by Econet played a major role in the increase in card based and internet transactions. Telecel also introduced its own debit card.
Real time gross settlement (RTGS) continued to dominate transactions with the value of settlements processed through the platform increasing by 29 percent since January from $3,1 billion to $4 billion in September. Settlements processed in August amounted to $3,5 billion.
“In volume terms, RTGS transactions registered an increase of 16 percent from 170,858 to 197,878 during the same period (August to September),” the RBZ said.
The central bank said total card based transactions for September stood at $418,89 million, up from $409,29 million in August while cheque transactions increased to $11,16 million in September from $9,37 million in August. — BH24.
Online Reporter