National Payments System transactions clock $2.3bn

THE value of transactions processed through the National Payments System rose by 23 percent to $2,318 billion, during the week to September 29, 2017 from $1,884 billion recorded previously.

According to the Reserve Bank of Zimbabwe’s latest weekly review, the improvement was “largely driven by an increase in the value of real-time gross settlement (RTGS) transactions, from $1,374 billion in the previous week to $1,752 billion.”

The usage of NPS payments streams in value terms, was distributed as follows: RTGS 75,57 percent; mobile 14,78 percent; point-of-sale (POS) 9,41 percent; automated teller machine (ATM) 0,19 percent; Cheque 0,06 percent.

During the week under review, the volume of transactions processed through the NPS stood at 23,708 million, up from 22,737 million transactions processed in the previous week.

And the distribution of NPS transaction volumes was dominated by mobile at 75,37 percent. POS accounted for 23,51 percent; RTGS 0,67 percent; ATMs 0,41 percent; and Cheque 0,03 percent.

Meanwhile, the RBZ has said the country’s annual broad money supply recorded a 29,61 percent rise in July to $6,56 billion, driven by an increase in deposits, latest data from the central bank has shown.

Broad money supply (M3), is a measure of the money in circulation which includes physical currency and demand deposits.

According to the central bank, transferable demand deposits and time deposits grew by 35,45 percent and 5,4 percent, respectively in July compared to the same period last year. — BH24

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