More Banks Stop DSTV Payments

MORE Zimbabwean Banks have stopped processing DSTV Subscription transactions owing to a myriad of factors chief among them being the prevailing cash crisis and foreign currency shortages. 

A survey conducted by TechnoMag indicates that most banks including some heavyweights, have halted DSTV Payments citing liquidity constraints as the biggest drawback. Stewart Bank and CBZ Bank are among some of the banks to recently stop DTSV related transactions.  An anonymous Stewart Bank official who recently spoke to TechnoMag said the cash crisis and foreign currency shortages left them with option but to terminate DSTV transactions. 

We are no longer doing DSTV Payments for other accounts except for current and platinum accounts. This is as a result of the prevailing foreign currency shortages,” said the Source.

Banks in Zimbabwe have tightened screws for DSTV payments, halting services such as internet, mobile payments and Point of Sale transactions due to the cash crisis.

CBZ however said their recent move to suspend DSTV payments was temporal and they would resume soon.

Meanwhile, CABS early this year circulated a communication indicating that it would not continue accepting payments from non Platinum and and Gold class account holders. 

The Reserve Bank of Zimbabwe last year said Zimbabweans had blown more than $40 million on DSTV payments and government hinted that it would move swiftly to block such money leakages.

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