Govt urged to scrap 5% POS fee to make electronic money more attractive

The government has been urged to promote electronic money and make it more attractive for users by scrapping the 5 percent Point Of Sale Tax. Confederation of Zimbabwe Retailers (CZR) president Mr Denford Mutashu in an interview said:

It has been our clarion call to the regulator, the Reserve Bank of Zimbabwe (RBZ) and the Ministry of Finance and Economic Development to reduce the cost of POS transacting and we appeal for the scrapping of five percent tax on POS transactions

We need more pull factors towards plastic and mobile money. Even telecommunications companies should come to the party because mobile money charges are too high and at times it is just that the public has no better alternative,

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