A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

Search Payments News

September 5, 2023

On the web

July 28, 2023

On the web

Is Zimbabwe's Recently Released Gold-Backed Digital Currency a Good Idea?

International Banker

"On May 8, the Reserve Bank of Zimbabwe began issuing gold-backed digital tokens as legal tender to stabilise the Zimbabwean dollar and protect citizens’ purchasing power. But while this new currency may reduce reliance on the US dollar and potentially lower exchange-rate volatility, many believe it will prove inadequate in solving Zimbabwe’s deep-rooted economic problems."

July 26, 2022

On the web

Zimbabwe Introduces Gold Coins in an Effort to Tame Inflation, Rekindle Faith in Currency


“Zimbabwe has launched gold coins to be sold to the public in a bid to tame runaway inflation that has further eroded the country’s unstable currency. The unprecedented move was announced Monday by the country’s central bank, the Reserve Bank of Zimbabwe, to boost confidence in the local currency. Trust in Zimbabwe’s currency is low after people saw their savings wiped out by hyperinflation in 2008 that reached $5 billion US, according to the International Monetary Fund. With strong memories of that disastrous inflation, many Zimbabweans today prefer to scramble on the illegal market for scarce U.S. dollars to keep at home as savings or for daily transactions. Faith in Zimbabwe’s currency is already so low that many retailers don’t accept it. The central bank disbursed 2,000 coins to commercial banks on Monday. The first batch was minted outside the country but eventually they will be produced locally, according to the governor of the Reserve Bank of Zimbabwe, John Mangudya.”

October 22, 2021

On the wires

BancABC Partners With Mastercard and Zimswitch to Transform Zimbabwe’s Payment Landscape | Middle East/Africa Hub

“BancABC Zimbabwe announced the launch of a new suite of co-branded Mastercard and Zimswitch payment cards, enabling its customers to make safe and seamless digital, domestic and international payments including e-commerce transactions. BancABC is the first bank to launch Mastercard and Zimswitch co-branded cards, following a partnership between the national payment switch and the global payment technology company announced last year .”

June 1, 2021

On the web

Zimbabwe Making Significant Strides in Digital Transformation: World Bank

CGTN Africa

“Zimbabwe has made digital advancements, including a revolution in mobile money which has resulted in about 7.67 million mobile wallet holders in a country of 14.5 million people, according to a new Zimbabwe Digital Economy Diagnostic report launched by the World Bank Thursday. This puts Zimbabwe among the leaders on the African continent in the use of mobile money. According to the report, the first-ever in the country, Zimbabwe has a relatively well-developed digital payment system, where 96 percent of all transactions in the country’s formal sector are conducted through digital means and only 4 percent are cash-based, with the government using digital money almost exclusively.”

June 29, 2020

On the web

Zimbabwe Suspends Stock Exchange, Mobile Payments Over ‘Economic Sabotage’


“Zimbabwe on Friday suspended trade on the stock exchange and mobile phone-based payments to address what President Emmerson Mnangagwa’s government called “criminality and economic sabotage.” The decision to suspend mobile payments will hit the economy hard as more than 80% of all transactions are conducted on phones due to a shortage of banknotes, according to central bank data.”

October 10, 2019

On the web

March 30, 2018

On the web

Zimbabwe: Ecocash Steers Zimbabwe Closer to Total Financial Inclusion


“Standard Chartered Bank Zimbabwe has re-activated ‘Swipe Into EcoCash’, a feature that allows Ecocash customers who bank with StanChart reactivates ‘Swipe into EcoCash’ The emergency of mobile money platforms headlined by EcoCash, OneMoney and Telecash- in order of market share has turned tables on banks as the mobile network operators took centre stage in driving financial inclusion in the country.”

February 26, 2018

On the web

Zimbabwe is pushing for mobile money interoperability as its cash problems linger


Zimbabwe could become one of Africa’s early adopters of full interoperability in the mobile money sector if the government is to have its way. President Emmerson Mnangagwa’s new administration is switching its focus to digital payment alternatives as the cash and liquidity shortages that have bedeviled the country for the last few years continue. The economy had been in tailspin for the last few years of former president Robert Mugabe, who was forced out in November.”

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.