Published: 19 July 2013

Mobile and internet based transactions have for the first time surpassed card payments after registering a 28.3% growth in the month of May as more account holders turn to the convenience of mobile banking.

According to RBZ's May 20213 monthly economic and internet based transactions rose from US$283.6 million in May 2013 while the total value of card transactions rose by 1.3% from US$382.2 million in April to US$332.6 million in May 2013.

The biggest mobile banking product on the market is Econet with more than 1.7 million subscribers as of December 2012 and expects to push in more than US$1 billion on its platform in the 12 months to August 2013.  
- independent

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