September 21, 2017 / comments : 0
Zanu PF has embraced new Information Communications Technology (ICT) and has gone a step further in promoting financial inclusion of unbanked members, especially those living in rural areas by introducing an electronic membership card that doubles as a debit card allowing financial transactions.
The membership card, which will be linked to People's Own Saving Bank (POSB), will come as a relief to the party's rural folk who have also been affected by current liquidity crisis.
This was revealed by Zvimba Senator, Caroline Mugabe at a recent meeting in Maquadzi, Zvimba South.
"Cash shortages have not spared anyone. But as Zanu PF we now have new membership cards that can be used to make purchases just like what bank ATM cards do. One simply puts money into the debit card, transact and cash challenges become a thing of the past," she explained to villagers.
Mugabe did not give a timeline by which the 'debit' card would be operational or when they would be put up for sale.
She said the party and government will make sure that more point of sale machines are distributed in rural areas to enable villagers embrace ease of doing business by carrying out cashless trade.
Most rural folk do not have banks accounts, while the bulk of transactions are still on a cash basis due to the non-availability of points-of-sale machines and ATMs.
Those with swipe bank cards endure long distance travel to nearby towns to access banking facilities or to perform cashless transactions.
Liquidity challenges have dogged the country in recent months, a trend which has seen most farmers being ripped off by unscrupulous grain buyers offering below market prices in exchange for cash.
If introduced, the new Zanu PF debit card could address some of the problems being faced by unbanked citizens.LOCAL NEWS
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