Mobile transactions hit $3bn

THE value of mobile transactions processed through the National Payment System (NPS) increased by four percent in the week ended September 21 2018 to $2,76 billion, from $2,69 in prior week.
According to the Reserve Bank of Zimbabwe (RBZ)’s latest weekly economic highlights, during the period, transactions processed through the Real Time Gross Settlement (RTGS) system went up 8,4 percent to $1,81 billion.
“The mobile platform dominated NPS transaction volumes, accounting for 83,41 percent of total transactions, followed by POS, 16.17 percent; RTGS, 0.28 percent; ATMs, 0,13 percent and cheque, 0,01 percent,” RBZ said.
“RTGS payments accounted for 65 percent of the total value of transactions processed through the NPS,” the RBZ said.
“The proportions of other payment streams were as follows — mobile, 25,41 percent; Point of Sale (POS) 9.47 percent; Automated Teller Machines, 0,09 percent; and cheques 0,04 percent,” the central said.
Meanwhile, average deposit rates for savings deposits and deposits of three-month tenor remained unchanged at 4,35 percent and four percent respectively.
Deposit rates of one-month tenor, however, closed the week higher at 3,6 percent, from 3,57 percent registered in previous week.
Weighted lending rates for individual clients at commercial banks closed the week under review at 9,54 percent, down from 9,43 percent in the previous week.
Lending rates for corporate clients, however, remained unchanged from previous week’s 7,24 percent.
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