Business / Companies
Zimbabweans banks under siege from mobile money adoption
10 Jan 2017 at 06:23hrs | Views
Banks are under threat from a surge in mobile money adoption, as telecommunication firms behind them are pushing more financial products on the market, a new report has shown.
A detailed report on mobile money trends titled Mobile Money Practices in Zimbabwe prepared by research consulting firm, Studio D Radiodurans for the Bill and Melinda Gates Foundation, said telecom firms behind mobile money platforms were now competing with banks.
Traditionally, mobile money has focused on remittances and banks on financial products, the report said.
Source - newsday