80% retail shop sales now cashless

The volume of transactions carried through Point of Sale terminals rose by more than $1.4 billion since the beginning of the year to $5.5 billion recorded in July.

In January when cash challenges began, only $4.1 billion moved through the platform.

RBZ Governor John Mangudya said there is disproportionately huge demand for physical US dollars on the market which a switch to alternative payment methods could easily address.