Swipe Machines Now Mandatory For All Businesses - Commission
The Consumer Protection Commission is targeting businesses that are rejecting Point-of-Sale (POS) machine transactions to ensure that all businesses accept POS transactions.
POS machines can be linked to ZiG and US dollar bank accounts, allowing consumers to choose the currency for transactions.
One major advantage of POS machines is that they reduce the risk of robberies by eliminating the need for people to carry large amounts of cash.
In a statement issued over the weekend, the commission said it noted with concern the practice by some unscrupulous businesses that were operating without point-of-sale machines.
The CPC said that failure by businesses to avail POS machines is in clear violation of the laws of the country and infringes on consumers’ right to choose when carrying out their daily transactions. It said:
To protect consumers from unfair business practices, the Consumer Protection Commission is carrying out an enforcement blitz, starting with the fuel retail industry where several service stations have been found wanting and issued with compliance notices by the commission in line with Section 68 of the Act.
The commission found out that out of the 27 service stations inspected, 80 per cent of them did not have point-of-sale machines…
Those businesses found not to be complying will be penalised in line with the requirements of the law.
The CPC said the Finance Act Number One of 2018, which amended Section 10 of the Bank Use Promotion and Suppression of Money Laundering Act, mandates businesses to obtain any device that enables electronic payment for their goods or services.
This law also stipulates that businesses must facilitate electronic payments through mobile phones or computers.
In an interview with The Herald, Confederation of Zimbabwe Retailers (CZR) President Denford Mutashu stressed the importance of compliance among all businesses. Said Mutashu:
CZR implores all shops formal or informal to comply with regulatory and statutory obligations guiding their operations like installation of working point-of-sale machines for the convenience of transacting public.
The multi-currency policy is law and both the ZiG and USD are legal tender in equal measure. Banks should expedite the issuance of point-of-sale machines across the country’s economy.
It is illegal to deny a consumer access to swipe or pay via mobile platforms in local currency.
Meanwhile, the CPC has urged the public to help the commission by reporting businesses that do not provide the option of swiping for goods and services. Reports can be made through hotline numbers.
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