Zimbabwe: Banks Set to Cut Transaction Costs

The cost of mobile and internet-based financial services is set for a significant drop after Government directed that the charge for Unstructured Supplementary Service Data (USSD), the technology platform used to facilitate on-line transacting, was whittled by as much as 60 percent.

Consequently, the Postal and Telecommunications Regulatory Authority of Zimbabwe has engaged all banks and other financial institutions to take note of the development and pass on the reduction to customers.

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