Source: Govt increases online payment limits – DailyNews Live
Staff Writer 18 July 2017
HARARE – Zimbabwe has increased the limit of the amount of money consumers
can use in online payment platforms amid an explosion of online and mobile
payment transactions.
“In line with the goal to encourage the use of electronic means of
payments, the limits have been broadened to facilitate payments by the
transacting public and business whilst taking cognisance of the anti-money
laundering requirements which are key in any financial system,” acting
Finance minister Joseph Made told the Senate.
Bank to wallet transactions are not limited, he said.
“Banked individual customers transact up to $10 000 per month on their
wallet with a daily limit of up to $5 000. Non-banked individual
customers can transact up to $3 000 with a daily limit of $1 000.
Merchants, farmers and SMEs can also transact on mobile wallets up to $50
000 per month depending on their category.”
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