Zimbabwe - Methods of PaymentZimbabwe - Methods of Payment
Zimbabwe’s banking system is linked to international banks allowing for the transfer of U.S dollar payments. Following the collapse of the Zimbabwean dollar, many companies in Zimbabwe found that their cash reserves were suddenly worthless. Thus, even today, these companies are short on cash. In addition, banks in Zimbabwe charge relatively high interest rates and lend for three months or less, in most cases. The physical payment system functions well but buyers may not have adequate financial resources to pay for goods acquired. Local banks and vendors accept international credit cards as a form of payment for goods and services due to the critical shortage of cash in the country.