Zipit amount limit reviewed upwards

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The government recently exhausted its strategic fuel reserves in a bid to avert price increases for fuel.

THE national electronic payments platform, Zimswitch has increased by 300 percent from $25 000 to $100 000 the amount an individual can send in a single transaction.

The monthly limit is now $400,000 effective this month.

Zimswitch deputy chief executive Zabron Chilakalaka said there was a need for an upward review of the transaction limit in line with customer demands.

“The previous limit was a bit low, the transacting public and banks were appealing for a higher limit. We are not coming from the perspective of inflation but we want to ease business transactions, as the platform continues to increase its activities.

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