{"id":25211,"date":"2020-07-12T20:35:53","date_gmt":"2020-07-12T18:35:53","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=25211"},"modified":"2020-07-12T20:35:53","modified_gmt":"2020-07-12T18:35:53","slug":"zimbabwes-battle-to-control-currency-inadvertently-boosts-bitcoin-profile","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/zimbabwes-battle-to-control-currency-inadvertently-boosts-bitcoin-profile","title":{"rendered":"Zimbabwe\u2019s Battle To Control Currency Inadvertently Boosts Bitcoin Profile"},"content":{"rendered":"<p>Zimbabwe\u2019s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. Some of such decisions include the abrupt suspension mobile money as well as the recent designation of Zimswitch as a national payment switch.<\/p>\n<p>Reserve Bank of Zimbabwe Suspends Mobile Money Service<\/p>\n<p>Owned by banks, Zimswitch is the current payments switch to the same financial institutions. This designation has been made to, ostensibly, enable interoperability between financial services providers.<\/p>\n<p>In a\u00a0<a href=\"https:\/\/www.rbz.co.zw\/index.php\/publications-notices\/notices\/press-release\/887-designation-of-zimswitch-as-a-national-payment-switch-09-july-2020\" target=\"_blank\" rel=\"noopener noreferrer\">notice<\/a>\u00a0to the public Thursday, the Reserve Bank of Zimbabwe (RBZ) says all financial services providers including mobile money operators (MMO) must connect to this\u00a0<a href=\"https:\/\/www.voazimbabwe.com\/a\/zimbabwe-mobile-money-market\/5496657.html\" target=\"_blank\" rel=\"noopener noreferrer\">national payment switch<\/a>.<\/p>\n<p>The country\u2019s largest MMO,\u00a0<a href=\"http:\/\/www.ecocash.co.zw\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ecocash<\/a>\u00a0appears to be the target of this move by RBZ. Over the years, Ecocash has routinely been accused of frustrating efforts to enable interoperability between MMOs among a slew of charges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zimbabwe\u2019s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. Some of such decisions include the abrupt suspension mobile money as well as the recent designation of Zimswitch as a national payment switch. Reserve Bank of Zimbabwe Suspends Mobile Money Service Owned by banks, Zimswitch is the current payments [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":14431,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,7],"tags":[906,653],"class_list":["post-25211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-ecocash","tag-rbz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Zimbabwe\u2019s Battle To Control Currency Inadvertently Boosts Bitcoin Profile - zimbabwe<\/title>\n<meta name=\"description\" content=\"Zimbabwe\u2019s deteriorating economic situation is forcing authorities to sign off on some desperate and controversial decisions. 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