News / National
RBZ links mobile money accounts to civil registry database
2 hrs ago |
44 Views
THE Reserve Bank of Zimbabwe has completed the integration of the national Civil Registry database with mobile financial services subscriber records, a move aimed at strengthening identity verification, curbing fraud and closing gaps that could facilitate illicit financial flows.
The integration allows biometric and national identity verification of mobile money users by cross-checking subscriber information held by mobile network operators and mobile money platforms against official Civil Registry records.
In his 2026 Monetary Policy Statement delivered in February, RBZ Governor Dr John Mushayavanhu directed mobile money operators to deregister accounts that could not be verified against valid national identification documents by the end of June.
The directive followed concerns over inconsistencies in subscriber databases, including duplicated identities, ghost lines and mismatched customer details.
Mobile money operators had already been required, under a 2021 regulatory directive, to enforce a "one line, one wallet" policy, limiting each SIM card to a single mobile money account.
However, the RBZ said discrepancies persisted, creating vulnerabilities within the digital financial system.
Responding to questions from The Herald, Dr Mushayavanhu confirmed that all mobile money operators had completed the required customer verification exercise.
"Following the 2026 February Monetary Policy Statement, the Reserve Bank directed all mobile money operators to complete a customer verification exercise and submit proof of compliance by 30 June 2026," he said.
"All operators have since met this requirement and provided the necessary documentation.
"Pursuant to that, all mobile money wallets were rescreened in collaboration with the Civil Registry, and the Reserve Bank's follow-up verification process was successfully concluded by 30 June 2026 with no adverse issues noted during the exercise.
"Furthermore, all mobile money providers have now been integrated with the Civil Registry system to enable customer identity verification during on-boarding and ongoing Know Your Customer (KYC) reviews."
Dr Mushayavanhu said the central bank would continue to monitor compliance and exercise regulatory oversight.
In his February statement, the governor warned that irregularities in SIM registration could pose systemic risks to the digital financial system by enabling fraud, identity manipulation and other forms of financial crime, including illicit financial flows.
The latest integration is expected to ensure that mobile money accounts are linked to verified national identities, creating what authorities say will be a more secure and transparent digital payments ecosystem.
The risks associated with weaknesses in digital financial systems were highlighted in February when 11 people aged between 20 and 26 were arrested after allegedly hacking 31 complainants.
Meanwhile, the RBZ said the number of Point of Sale (POS) machines in Zimbabwe continued to grow despite increasing adoption of alternative digital payment methods.
Dr Mushayavanhu said the evolution of the payments landscape, including the growth of mobile banking applications, mobile money platforms, QR code payments, online payment gateways and other instant payment solutions, was providing consumers and merchants with additional payment options.
"In recent years, the payments landscape has continued to evolve, with growing adoption of alternative faster payments that leverage digital payment channels, including mobile banking applications, mobile money platforms, QR code-based payments, online payment gateways, and other instant and faster payment solutions," he said.
He said the newer payment methods complemented traditional POS-based payment channels rather than replacing them entirely.
"Despite the growing use of alternative payment methods, POS devices remain an important component of the national payments ecosystem, particularly for merchant acceptance of card-based transactions," he said.
The number of POS devices increased from 155 518 in February to 156 664 by June 30, 2026, reflecting continued demand for card-based payment acceptance despite the rapid expansion of digital alternatives.
The integration allows biometric and national identity verification of mobile money users by cross-checking subscriber information held by mobile network operators and mobile money platforms against official Civil Registry records.
In his 2026 Monetary Policy Statement delivered in February, RBZ Governor Dr John Mushayavanhu directed mobile money operators to deregister accounts that could not be verified against valid national identification documents by the end of June.
The directive followed concerns over inconsistencies in subscriber databases, including duplicated identities, ghost lines and mismatched customer details.
Mobile money operators had already been required, under a 2021 regulatory directive, to enforce a "one line, one wallet" policy, limiting each SIM card to a single mobile money account.
However, the RBZ said discrepancies persisted, creating vulnerabilities within the digital financial system.
Responding to questions from The Herald, Dr Mushayavanhu confirmed that all mobile money operators had completed the required customer verification exercise.
"Following the 2026 February Monetary Policy Statement, the Reserve Bank directed all mobile money operators to complete a customer verification exercise and submit proof of compliance by 30 June 2026," he said.
"All operators have since met this requirement and provided the necessary documentation.
"Pursuant to that, all mobile money wallets were rescreened in collaboration with the Civil Registry, and the Reserve Bank's follow-up verification process was successfully concluded by 30 June 2026 with no adverse issues noted during the exercise.
"Furthermore, all mobile money providers have now been integrated with the Civil Registry system to enable customer identity verification during on-boarding and ongoing Know Your Customer (KYC) reviews."
Dr Mushayavanhu said the central bank would continue to monitor compliance and exercise regulatory oversight.
In his February statement, the governor warned that irregularities in SIM registration could pose systemic risks to the digital financial system by enabling fraud, identity manipulation and other forms of financial crime, including illicit financial flows.
The latest integration is expected to ensure that mobile money accounts are linked to verified national identities, creating what authorities say will be a more secure and transparent digital payments ecosystem.
The risks associated with weaknesses in digital financial systems were highlighted in February when 11 people aged between 20 and 26 were arrested after allegedly hacking 31 complainants.
Meanwhile, the RBZ said the number of Point of Sale (POS) machines in Zimbabwe continued to grow despite increasing adoption of alternative digital payment methods.
Dr Mushayavanhu said the evolution of the payments landscape, including the growth of mobile banking applications, mobile money platforms, QR code payments, online payment gateways and other instant payment solutions, was providing consumers and merchants with additional payment options.
"In recent years, the payments landscape has continued to evolve, with growing adoption of alternative faster payments that leverage digital payment channels, including mobile banking applications, mobile money platforms, QR code-based payments, online payment gateways, and other instant and faster payment solutions," he said.
He said the newer payment methods complemented traditional POS-based payment channels rather than replacing them entirely.
"Despite the growing use of alternative payment methods, POS devices remain an important component of the national payments ecosystem, particularly for merchant acceptance of card-based transactions," he said.
The number of POS devices increased from 155 518 in February to 156 664 by June 30, 2026, reflecting continued demand for card-based payment acceptance despite the rapid expansion of digital alternatives.
Source - The Herald
Join the discussion
Loading comments…
