Mobile transactions in Zimbabwe are now averaging US$1.5 billion per month reflecting increased uptake of the facilities on the back of hard cash flow constraints.
The reliance of Zimbabwe’s industry and commerce on hard cash transactions has slowed down as evidenced by data released at a mobile and digital payments conference which shows an 80 percent uptake of mobile payments.
An ICT expert Mr Neeraj Malik said banks, mobile firms should therefore focus on efficient and affordable services.
“There is now need to come up with efficient systems otherwise most consumers will fail to transact,” he said.
There is also need to ensure that the pressures arising from the overwhelming demand for mobile transactions are solved, says NetOne acting chief executive officer, Mr Brian Mutandiro.
Mr Mutandiro said: “Mobile systems are therefore entitled to do their best”.
Massive capital investments are also required to support the sector said a mobile money expert Mr Jayanta Nath.
“It is now basically the need to upgrade the systems to avoid inconveniences,” said Mr Nath.
Monetary authorities are also calling on Zimbabweans to embrace digital methods of payments.