THERE has been a steady increase in the adoption of point-of-sale (POS) machines by local businesses in line with government efforts to encourage the use of formal banking channels and improve tax compliance, the Bankers Association of Zimbabwe (BAZ) has said.
This follows a government directive in January this year, which made it mandatory for all businesses, including informal traders, to use POS machines for all transactions.
The Reserve Bank of Zimbabwe is working with banking institutions through BAZ and other service providers to ensure POS gadgets are available to all businesses.