Low-cost carrier, fastjet Zimbabwe, has said it can no longer process online payments above $200 using the Zimbabwean Visa or MasterCard, citing the “current” financial cash crisis.
In a post on its website, fastjet Zimbabwe said,
We would kindly inform you that Zimbabwean Visa/Master Cards for online purchases above $200 may not be processed as a result of the current financial situation in Zimbabwe.
The move by fastjet Zimbabwe comes as banks have started limiting the usage of the VISA/MasterCard for local transactions and are only allowing them to be used for foreign transactions. Early this month, BancABC told its clients that Visa/MasterCard would no longer be available for local transactions and instead use ZimSwitch-enabled debit cards..
The Reserve Bank of Zimbabwe has not implemented any regulations on the limited use of Visa/MasterCard for local transactions, with banking sources saying the move was the brainchild of the banks to augment efforts by the regulator in stabilising the nostro accounts.
Efforts by NewsDay to reach fastjet Zimbabwe were unsuccessful.