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Message: [QUOTE="Nehanda, post: 27666, member: 2262"] Zimbabwe started giving out payment machines across the country to bring unofficial businesses into the regular economy. These machines let customers pay with cards instead of cash. Every business needs one of these machines to receive or update their permits to operate. Government officials hope this makes business rules less complicated for everyone to follow. President Mnangagwa discussed this during the first Cabinet meeting of the year. He stressed that businesses should not struggle because of harsh rules or expensive permits. Local officials were instructed to check for working payment machines and official bank accounts before they approved any business permits. This plan should boost the use of ZiG, the national currency. The program aims to encourage more digital payments and improve tax collection. A recent check by the communications authority found that most business areas already have the electricity and internet needed for these payment devices. Remote places without steady power or internet will receive special machines that work without constant connections. These offline machines ensure that businesses in faraway areas can still participate. Reserve Bank head Dr. John Mushayavanhu explained that the program helps collect more taxes and brings unofficial businesses into the system. The main goal is to connect every business to proper banking through payment machines. The exact number of machines depends on how many businesses operate in Zimbabwe. The Reserve Bank works with banking groups to ensure that enough machines reach everyone. Dr. Mushayavanhu promised that all businesses would receive payment machines as needed. Systems exist to meet every business request. Small operations can share mobile payment machines among several vendors. Each machine links to different bank account codes, allowing many small traders to use the same device. Banks play a key role since they manage all payment machine operations. Banking institutions have already started giving payment devices to all business customers when businesses register or renew permits with local authorities. The Reserve Bank directed this action in its February policy statement. For street vendors and market sellers, the Reserve Bank teams up with local officials. They ensure anyone asking for trading permits has both a bank account and a working payment machine. Payment machines help informal businesses process money through regular banking channels. This makes collecting taxes much easier. Most business centers already have basic electricity and internet access to support these machines. Many small shops run on solar power, which easily handles payment devices. Some machines work without the internet and can operate offline in remote areas. The Reserve Bank partners with phone companies to expand payment services everywhere in the country. They want all citizens to access banking services, even those in rural or faraway places. The Financial Intelligence Unit plans to watch businesses closely. They will monitor how companies use payment machines based on expected electronic sales in each area. [/QUOTE]

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