Zimbabwe Banks to Re-introduce Credit Cards

Bankers’ Association of Zimbabwe president, John Mangudya said two commercial banks that previously facilitated the system had re-engaged their international partners as they stepped up efforts to re-introduce the service.

"The system had been stopped when we accumulated too many zeros that our operations could not cope with but now that we are using multiple currencies we should be able to start offering the service sometime next week," he was quoted by the Herald as saying.

According to the newspaper, there had been concerns by tourism stakeholders that their clients, especially international tourists, were finding it increasingly difficult to enjoy their holiday due to the current system where most transactions were done on a cash basis instead of via credit or debit cards.

Mangudya said the move would run concurrently with the re-introduction of local point-of-sale (POS) facilities in most retail outlets as banks promoted the use of plastic money as opposed to cash.

A number of banks had already started installing POS machines in most shops after realising that the country could not sustain the use of cash only. (Sapa)