Zimbabwe’s total number of Point of Sale (POS) terminals has increased from 17,069 recorded at the end of March 2016 to a current figure of 20,000.
Speaking at the recent Mobile Money and Digital Payments Conference the Reserve Bank of Zimbabwe’s director of national payments Josephat Mutepfa highlighted the growth in the electronic payments field in the past year which has been influenced by the cash crisis in Zimbabwe.
At the end of June 2015, Zimbabwe had 15,908 POS terminals a number which increased to 16,363 by the end of December 2015. As the liquidity situation in the economy worsens service providers have been forced to introduce payment alternatives that accommodate customers using mobile money and card services.
This has been complemented by the introduction of debit card alternatives that cater for various client segments.
At the same time, the rollout of the infrastructure supporting these payment alternatives like the POS terminals has been hampered by the costs involved in importing the hardware.