August 8, 2019

Ghana is leader in electronic payment in Africa – Veep

Vice President Dr Mahamudu Bawumia on Wednesday touted Ghana’s electronic payment credentials, saying that, the country is the undisputed leader in the payment systems arena in Africa.

He mentioned the mobile money interoperability payment system that enabled one to transfer money from his/her bank account to the mobile money wallets conveniently as one of the major e payments achievements.

Vice President Bawumia made the remarks when he launched the GH Dual Card in Accra.

He said the efficiency of the country’s payment systems was a clear manifestation of being the undisputed leader in Africa.

“We are also the first country to have interoperability between mobile money accounts and bank accounts.

“We have extended it to e-zwich accounts. This is a triple interoperability. It is quite remarkable, what we have done,” he stressed.
He reaffirmed government’s plan to ensure electronic financial payment by June next year, for all government transactions and services.

In that vein, all Ministries, Departments and Agencies would be networked electronically to aid in revenue collection.

The GH Dual Card is a two-in-one payment card that has both the e-zwich and gh-ink applications and can be used either as e-zwich, gh-link or both as desired by the customer.

It will support government’s efforts at eliminating “ghost workers” on its payroll.

Mr Archie Hesse, the Chief Executive Officer of the Ghana Interbank Payments and Settlement Systems, in an address, said the new Card was designed to give cardholders access to both funds on their e-zwich cards and in their bank accounts at the same time.

He said customers, who wanted to withdraw money or spend off the e-zwich side of the card, would need an e-zwich only terminal or a hybrid terminal.

It would also require fingerprint authentication.
Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) is a wholly-owned subsidiary of the Bank of Ghana. It was incorporated in May 2007 with a mandate to implement and manage interoperable payment system infrastructures for banks and non-bank financial institutions in Ghana.

The GhIPSS, in accordance with its mandate. has implemented and currently managing the National Switch and Biometric Smart Card Payment System- e-zwich, Cheque Codeline Clearing System, Ghana Automated Clearing House systems- Direct Credit and Direct Debit and the National Switching and Processing System- gh-link.

GhIPSS is obliged to maintain a high standards of excellence, reliability, integrity, and timeliness for all its electronic infrastructure.

Source: www.ghanaweb.com

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