Zimbabwe Online Payments Back Online After Currency Conversion

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Zimbabwe's central bank, the Reserve Bank of Zimbabwe, announced the resumption of online payments starting April 12th. This follows a period of disruption after the introduction of a new local currency, the Zimbabwe Gold (ZiG), on April 5th.

Banks and payment processors needed time to convert customer balances and update their systems to handle the ZiG. This left consumers temporarily unable to make online purchases.

The move to the ZiG has caused some confusion, with citizens concerned about the gap between balance conversion and actual currency circulation. Additionally, Zimbabwe's history of hyperinflation and currency instability has led to a preference for cash transactions in more stable foreign currencies.

This started last week when the Zimbabwe government switched from their former currency to the new currency of gold.

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