Staff Reporter
The Consumer Protection Commission (CPC) is intensifying efforts to ensure that all businesses comply with the requirement to accept Point-of-Sale (POS) transactions, targeting companies that are refusing to offer this payment option to consumers.
POS machines, which can be linked to both ZiG and US dollar bank accounts, offer consumers the flexibility to use a currency of their choice.
In a statement released over the weekend, the CPC expressed concern over the growing number of businesses, particularly in the fuel retail sector, that are operating without POS machines, describing the practice as "unscrupulous."
The CPC also referenced the Finance Act Number One of 2018, which amended Section 10 of the Bank Use Promotion and Suppression of Money Laundering Act. This law mandates businesses to obtain devices that facilitate electronic payments, such as POS machines, and to provide electronic payment options through mobile phones or computers.
The commission highlighted that the refusal to provide POS options is a clear violation of the country's laws and infringes on consumers' right to choose how they pay for goods and services.
The commission also said that it would also descend on all service stations that were not accepting swipe as a method of payment.
“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 that out of the 27 service stations inspected, 80 percent of them did not have point-of-sale machines… Those businesses found not to be complying will be penalized in line with the requirements of the law,” said the commission in a statement.
Confederation of Zimbabwe Retailers (CZR) President Denford Mutashu emphasized the importance of compliance.
He urged businesses, both formal and informal, to adhere to the regulations governing electronic payments.
“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 the 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,” said Mutashu.
The CPC has also called on the public to assist in its efforts by reporting businesses that do not provide electronic payment options.
Consumers can report non-compliant businesses through the commission’s hotline numbers.
The commission’s crackdown aims to ensure fairness in the marketplace, reinforcing consumers' rights to access convenient and secure payment options across Zimbabwe.
