Regulatory Alerts2020-01-01
Geolocation of Access Points and Devices
The Reserve Bank of Zimbabwe directs financial institutions and payment system providers to implement geolocation across all access points and devices, including ATMs, POS terminals, mobile banking agents, merchants, branches, and bank agents. This requirement mandates the identification and publication of precise real-world geographic coordinates for these assets. Institutions must update their websites and digital platforms to make location data readily accessible to stakeholders upon request.
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