• Home
  • News
  • Analysis
  • Reviews
  • Opinions
  • About
  • Jobs
  • Contact Us
Premium Tech News and Analysis | Zimbabwe
Advertisement
  • Home
  • News
  • Analysis
  • Reviews
  • Opinions
  • About
  • Jobs
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Analysis
  • Reviews
  • Opinions
  • About
  • Jobs
  • Contact Us
No Result
View All Result
Premium Tech News and Analysis | Zimbabwe
No Result
View All Result
Home Analysis

Transnational convenience guise in economic melt down

Eustance Mushangwe by Eustance Mushangwe
May 30, 2020
in Analysis, Featured
0
Transnational convenience guise in economic melt down
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Digital personalised Banking has been considered convenient for users but it is a pretext in crushing the locus of the national economics.

Since the introduction of RTGS and bond notes the business sector has seen a drastic change in the state of the country’s inflation data base.

To try and counter this economic challenge and having experienced large sums of e-Banking transfers by individual accounts over the first and second quarter of 2020 ZimSwitch downwardly reviewed the monthly and daily ZipIt limit to a $100,000 and $3,000 Zimbabwean Dollars respectively.

With the above policy having been implemented and projecting the 2020 E-Banking systems behaviour it is highly likely that access points payment systems increased by more than 5% by 2019 will steeply rise in 2020.

Banks like Steward Bank and FBC have informed its customers that they should resort to digital platforms for services as no more paperwork will be done in local branches.

The above might seems like a convenience centred service but it tends to be an alarming economic status scare and might trigger a complete twist due to the country’s inflationary environment.

Background information shows that National Payment System report on the behaviour of banks access points between 2018 and 2019 shows a rapid increase by more than 5% in 2019 compared to 2018.

With the advent of more mobile banking applications from the period of 2018 to 2019, mobile Bank Subscribers increased by 7%. This indicates reduced human interference in banks and more speed execution for them to make transaction from anywhere.

Shortage of hard cash led to the behaviour of ATMs reduce to a negative -2% thus by 551 in 2018 to 542 in 2019.

POS services increased by 21% .Through business and internet surveys the inaccessible and limited bond notes operation fostered more businesses from SMEs to the formal sector to adjust to the use of POS machines.

There was a large injection on the E-banking sector as subscriptions went up by 18% from 353,103 in 2018 to 415,901 by 2019.The inconveniencing systems with unavailability of online bank service networks in banks directed to people doing their banking transactions electronically. Due lack of disposable income micro-finance institutions provided funding to high-risk borrowers with merchant and commercial banks offering online loans and investments for instance Kashagi Loans and as well as servicing households in their needs respectively.

Debit Cards increased by 19% in 2019 as cash became scarce hence more payment systems and points of service opted for those as a requisite in purchasing goods or transacting for other essentials.

The financial performance from 2018 to 2019 was far from satisfactory as the inflation indicators kept on increasing with increased and crunched liquidity from lack of generating foreign currency through non investment injection.

Source:Equity Axis
Previous Post

Why Most Zimbabweans Loving the itel P33 Plus Smartphone

Next Post

How is Technology Used to Improve Business Growth

Eustance Mushangwe

Eustance Mushangwe

Eustance is Journalism and Media studies practitioner who is interested in Technology. Her hobbies are playing chess and travelling.

Next Post
How is Technology Used to Improve Business Growth

How is Technology Used to Improve Business Growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 81 Followers
  • 22.9k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
gbwhatsapp

See read delete everyone messages: GB Whatsapp

April 8, 2018
Cassava Smartech launched Ecocash Web Portal and USSD

Cassava’s Revenue Scales up 68% as Diversification Strategy Pays Off

February 17, 2021
Spotify Expanding footprint to Zimbabwe

Spotify Expanding footprint to Zimbabwe

February 25, 2021
Top Three Global Technology Predictions for 2021

Make Safe Online Payments Using a Virtual Credit Card

February 16, 2021
Instagram

Instagram Rolling Out The Threads App

47
Linus Torvalds

Linux Boss condemns Facebook, Instagram and Twitter

17
The next version of WhatsApp will make it easier for you to style you text

WhatsApp Group Admins Required to Register

16
Apple iOS

Six biggest takeaways from WWDC

11
Spotify Expanding footprint to Zimbabwe

Spotify Expanding footprint to Zimbabwe

February 25, 2021
Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency

Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency

February 23, 2021
The next version of WhatsApp will make it easier for you to style you text

Experience Chatting and Interacting with Yourself on WhatsApp

February 23, 2021
Clean-Cut Comparison of Google Play Nearby Sharing & Near- Field Communication

Clean-Cut Comparison of Google Play Nearby Sharing & Near- Field Communication

February 23, 2021

Recent News

Spotify Expanding footprint to Zimbabwe

Spotify Expanding footprint to Zimbabwe

February 25, 2021
Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency

Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency

February 23, 2021
The next version of WhatsApp will make it easier for you to style you text

Experience Chatting and Interacting with Yourself on WhatsApp

February 23, 2021
Clean-Cut Comparison of Google Play Nearby Sharing & Near- Field Communication

Clean-Cut Comparison of Google Play Nearby Sharing & Near- Field Communication

February 23, 2021

Latest Posts

  • Spotify Expanding footprint to Zimbabwe February 25, 2021
  • Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency February 23, 2021
  • Experience Chatting and Interacting with Yourself on WhatsApp February 23, 2021

Recent News

Spotify Expanding footprint to Zimbabwe

Spotify Expanding footprint to Zimbabwe

February 25, 2021
Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency

Zim’s Currency Crisis Paves The Way For New Solutions: Local Cryptocurrency

February 23, 2021
  • Home
  • News
  • Analysis
  • Reviews
  • Opinions
  • About
  • Jobs
  • Contact Us

© 2021 Eyetrodigital.

No Result
View All Result
  • Home
  • News
  • Analysis
  • Reviews
  • Opinions
  • About
  • Jobs
  • Contact Us

© 2021 Eyetrodigital.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used.