National Payment System transactions down 6pct in January

HARARE,– The value of transactions processed through the National Payment System (NPS) in the last week of January declined by six percent from $1,8 billion in the previous week to $1,7 billion owing to a decline in Real Time Gross Settlement (RTGS) transactions.

In a weekly report, the Reserve Bank of Zimbabwe (RBZ) said RTGS transactions went down 9 percent to $1,1 billion, accounting for 65,80 percent of the value of transactions processed through the NPS.

An acute shortage of bank notes in the southern African nation has forced Zimbabweans to resort to electronic means of payment.

Mobile-based transactions went up 10 percent to $389,04 million from $353,09 million while Point Of Sale (POS) declined eight percent from $227,95 million to $208,75 million.

Automated Teller Machine (ATM) transactions went up 13 percent from $4,54 million to $5,14 million.

Cheque transactions remained one percent flat at $1,24 million.

In terms of volumes, mobile based transactions accounted for 77,79 percent while POS took up 21,35 percent.
RTGS, ATMs and Cheque were at 0,45 percent, 0,39 percent and 0,02 percent respectively. – Source