Regulatory Alerts2020-01-01
Geolocation of Access Devices and Points 1 2020
The Reserve Bank of Zimbabwe requires financial institutions, payment system providers, and stakeholders to implement geolocation for all access points and devices, including POS terminals, ATMs, mobile banking agents, merchants, branches, and bank agents. This mandate entails identifying and publishing the exact real-world geographic coordinates of each access point or device. Institutions must update their websites and electronic platforms to make this location data readily available upon request for customer convenience.
NPSD Circular 1\2020
[Logo: Reserve Bank of Zimbabwe]
17 January 2020
Financial Markets Division - National Payment Systems CIRCULAR TO PAYMENT SYSTEMS PROVIDERS AND PARTICIPANTS
Geolocation of Access Points and Devices
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The Bank urges and encourages all financial institutions, payment system providers and other stakeholders in the financial services sector to provide geolocation of all access points and devices which include POS devices (including m-POS), ATMs, mobile banking agents, merchants, branches and bank agents.
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Geolocation will entail the identification and publication of the exact real-world geographic locations of access points or devices.
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In this regard, institutions are urged to update their Websites as well as other electronic platforms to make this information available to stakeholders on demand for the customers’ convenience.
[Signature]
J. Mutepfa (Mr.) Deputy Director, Financial Markets Division - National Payment Systems
Reserve Bank of Zimbabwe