News / National
Zimbabwe mobile money transfer under spotlight
13 Jul 2015 at 18:03hrs | Views
Zimbabwe has been urged to develop a progressive and competitive regulatory framework for the mobile money transfer sector.
The growth of the mobile money transfer sector as evidenced by the US$1,4 billion worth of transactions recorded last year has seen growing calls for the revision of regulations governing the sector.
Organisers of the forthcoming 2015 Mobile Money and Digital Payments Conference say levelling the playing field between conventional banks and telecommunications players remain a major area requiring urgent attention.
The conference, which is being organised by Oxlink Capital Limited is expected to attract over 200 industry leaders and regulators to discuss progress made over the years in developing the industry.
Telecommunications companies and banks are currently involved in a fierce competition.
Zimbabwe has over 25 000 mobile money agents across the country.
The Reserve Bank of Zimbabwe has in the past made its position clear that relationships between financial institutions and payment system providers should be complimentary rather than acrimonious.
The growth of the mobile money transfer sector as evidenced by the US$1,4 billion worth of transactions recorded last year has seen growing calls for the revision of regulations governing the sector.
Organisers of the forthcoming 2015 Mobile Money and Digital Payments Conference say levelling the playing field between conventional banks and telecommunications players remain a major area requiring urgent attention.
Telecommunications companies and banks are currently involved in a fierce competition.
Zimbabwe has over 25 000 mobile money agents across the country.
The Reserve Bank of Zimbabwe has in the past made its position clear that relationships between financial institutions and payment system providers should be complimentary rather than acrimonious.
Source - zbc
