Business / Companies
Zim financial institutions embrace plastic money
14 Jun 2012 at 07:04hrs | Views
Financial institutions have heeded the call by players in the tourism industry to introduce plastic money as they gear up for the upcoming United Nations World Tourism Organisation (UNWTO) General Assemly next year.
Tourists who were coming to Zimbabwe have for a long time been forced to carry hard cash on them as financial institutions were failing to provide plastic money services.
With the UNWTO conference expected to draw more than 6000 delegates in August next year, financial institutions are gearing up for the big event and have already put in place mechanisms to support plastic money.
Local financial institutions have already begun launching visa and master cards as well as installing infrastructure to support international cards that delegates will be bringing in.
Zimbabwe Safari Operators Chairperson, Mr Emmanuel Fundira hailed the move, describing it as a step in the right direction.
"We are amused by the development and it goes to show how serious we are about hosting the UNWTO conference," said Mr Fundira.
FBC Executive Director Retail Banking and e-Commerce Division, Mr Agrippa Mugwagwa said their financial institution has put in place mechanisms to support visa and master cards ahead of the tourism conference.
"By the time the UNWTO conference will be held next year, infrastructure that supports visa cards and master cards will be readily available. We want to support the tourism industry," Mr Agrippa said.
He said although there are risks of cyber crimes, his organisation is working on modalities to curb that.
The world is moving towards a cashless economy and plastic money has become more prominent.
The use of visa cards and master cards is much easier for tourists who require services so that they do not move around with lots of cash.
Tourists who were coming to Zimbabwe have for a long time been forced to carry hard cash on them as financial institutions were failing to provide plastic money services.
With the UNWTO conference expected to draw more than 6000 delegates in August next year, financial institutions are gearing up for the big event and have already put in place mechanisms to support plastic money.
Local financial institutions have already begun launching visa and master cards as well as installing infrastructure to support international cards that delegates will be bringing in.
Zimbabwe Safari Operators Chairperson, Mr Emmanuel Fundira hailed the move, describing it as a step in the right direction.
FBC Executive Director Retail Banking and e-Commerce Division, Mr Agrippa Mugwagwa said their financial institution has put in place mechanisms to support visa and master cards ahead of the tourism conference.
"By the time the UNWTO conference will be held next year, infrastructure that supports visa cards and master cards will be readily available. We want to support the tourism industry," Mr Agrippa said.
He said although there are risks of cyber crimes, his organisation is working on modalities to curb that.
The world is moving towards a cashless economy and plastic money has become more prominent.
The use of visa cards and master cards is much easier for tourists who require services so that they do not move around with lots of cash.
Source - zbc
