Zimbabwe is tightening the monitoring of digital transactions to protect the interests of the banking public following a 75 percent uptake of electronic payment systems across the country.
The rise in the volume of digital payments has necessitated the drafting of an electronic transactions bill which aims at protecting the interests of the banking public, ensure fair play by operators, regulating the industry and ensure accountability.
The Zimbabwe Internet Governance Forum, Multi-stakeholder Coordinating Team (MCT) chairman, Mr Gilford Hapanyengwi told the ZBC News the tight monitoring systems will also enable the country to attract global investors.
“It is critical and we hope such a stance can benefit the whole economy,” he said.
Internet based transactions and digital platforms require regular monitoring to stamp out illicit deals, according to Postal and Regulatory Authority of Zimbabwe (POTRAZ) deputy director general Mr Alfred Marisa.
“What more can we anticipate apart from focusing on the future systems to increase capacity systems,” Mr Marisa said.
In a related development the Zimbabwe Internet Governance Forum (ZIGF) held a one day meeting in the capital where issues relating to cyber crime, data economy, sustainable development, the internet, bridging and gender divide, social media regulation, consumer awareness among others were under spotlight.