Zimbabwe’s drive toward a digital economy under the National Development Strategy 2 (NDS2) continues to accelerate, with the number of Point-of-Sale (POS) machines nationwide surpassing 160 000, signalling rapid adoption of electronic payment systems across industry and commerce.
According to the Reserve Bank of Zimbabwe, POS availability has risen sharply from about 40 000 units in 2021 to more than 160 000 as of December last year. This growth underscores a national shift toward modern banking platforms as Zimbabwe aligns with global trends that prioritise efficiency, transparency, and convenience in financial transactions.
The expansion is also driven by Zimswitch, the country’s national payments switch and regulator of POS infrastructure. The organisation says demand for devices continues to climb as businesses embrace digital payment integration.
“We are witnessing phenomenal trends in the use of digital payments, which is an indication that industry and commerce are embracing these modern terms of transactions. We also applaud regulatory authorities for slashing bank charges on transactions, a move that will further promote the uptake of these financial services,” said Zimswitch Head of Marketing and Customer Experience Sharon Marira.
Financial sector leaders say the continued rollout of POS machines will help Zimbabwe’s banking industry remain competitive in an increasingly digital global economy.
Chairperson of CBZ Holdings Limited, Luxon Zembe, said banks must continue embracing technological change.
“As the banking sector, we all need to adapt to such trends as we are not operating in a vacuum. The global economy now requires modern methods of transactions for example, over 40 percent of transactions are now within electronic payment systems, mainly our domestic structured currency, the Zimbabwe Gold, an indication that the nation is embracing these platforms,” he said.
The rapid uptake of POS infrastructure comes as the central bank continues to emphasise the stability and security of Zimbabwe’s financial sector, reinforcing public confidence in electronic payment solutions.
