Zimbabwe Set to Resume Online Payments Post April 12 as Banks Adapt to New Currency

Zimbabwe’s Reserve Bank is getting ready to bring back online payments starting April 12.

This comes after banks and payment providers have made good progress in switching over customer balances to the new Zimbabwe Gold currency, ZiG.

“[After April 12], the Reserve Bank expects that all the online payment platforms will be operating smoothly for all transactions,” said the Reserve Bank in a statement.

Since the introduction of ZiG on April 5, online payments in Zimbabwe were on hold because the old currency, the Zimbabwean dollar, couldn’t be used. This left people unable to buy things online. Banks and payment companies needed time to update their systems to deal with the new currency. 

Using the internet to pay for things hasn’t caught on big in Zimbabwe because people prefer using cash in more stable currencies like the South African rand, Botswana pula, or US dollar. 

But lately, more and more Zimbabweans are starting to use online payment options. Some popular ones are Innbucks, which helps you get change at restaurants; Ecocash, a digital wallet; and O’Mari, an all-in-one app for mobile money, insurance, and investing.