Zimbabwe’s digital payments reached a record-breaking $5.93 billion in retail transactions in Q2 2025, a 34% increase from the previous quarter.
According to CoinGeek, a definitive authority on blockchain and emerging technologies, the surge underscores how fast the nation is embracing a cashless future, powered by government reforms, mobile money adoption, and a trusted national payments switch.
“Zimbabwe’s payments landscape is transforming at an unprecedented pace. The blend of infrastructure, innovation, and necessity is rewriting how Zimbabweans interact with money,” states the CoinGeek report
With 152,000 point-of-sale (POS) machines rolled out nationwide and expanded access to RTGS and EFT systems, digital rails are firmly in place. The launch of the gold-backed ZiG currency has also reinforced confidence in financial stability and modernization.
Central to the boom is Zimswitch Technologies, Zimbabwe’s national payments switch. By enabling seamless transfers across banks and mobile money platforms, Zimswitch has unlocked the seamless connectivity that the market desperately needed. “When people trust that their payments will move swiftly and securely, adoption accelerates,” the report adds.
Cash shortages, paired with high mobile penetration, have further tilted the balance toward digital wallets. Millions of Zimbabweans now transact daily via mobile money, whether paying school fees, buying groceries, or sending remittances. “Digital payments are no longer an alternative, they are the default,” it said.
Industry experts say the implications stretch beyond convenience. They underlined that digital finance is broadening financial inclusion, opening new opportunities for small businesses, and strengthening trust in Zimbabwe’s banking ecosystem.
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