EcoCash is the country’s largest mobile money and has become an alternative for banks for many subscribers. Parent company Econet Zimbabwe announced that it will be reducing their debit card’s international transaction limits.
Initially, the international transaction limits per month was US$400 i.e. US$200 for ATM and US$200 for POS and online payments. However, effect from the 2nd of August, the limit has been cut back to a total of US$300 with an allocation of US$200 on POS, US$50 on ATM and US$50 on online payments.
This serves as an inconvenience for those who shop outside the country and make payments online.