Zimbabwe’s leading mobile payment platform keeps ban on international transactions

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Zimbabwe’s largest mobile payment platform EcoCash has maintained the suspension of international transactions using its debit card, despite initially saying that transactions would resume Wednesday under a new prefunding arrangement.

The company on Oct. 11 announced the suspension as foreign currency shortages persisted in the country, hoping that the service would resume under new terms and conditions entailing prefunding on Nov. 1.

However, in a public notice issued on the day the new service was due to come on stream, EcoCash said the prefunding requirement had been deferred indefinitely.

Many local banks have suspended the use of Visa or Mastercars outside the country due to foreign currency shortages, with some having earlier on opted for the prefunding arrangement under which clients deposited U.S. dollars locally for use when they travelled abroad. Enditem

Source: Xinhua/NewsGhana.com.gh

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