Gh-Link Transactions Up 600%

ATMThe Ghanaian banking public has embraced the gh-link platform as available data indicates that more and more customers are using the Automated Teller Machines (ATMs) of other banks.

This development is being made possible by the new national electronic payment platform. Figures made available by the Ghana Interbank Payment and Settlement Systems (GhIPSS), has revealed that the use of the ATMs of banks other than the customer’s own bank has jumped by close to 600 per cent from 7,389 transactions in the month of January this year to 49,349 transactions last month.

The data further indicates that on weekly basis over 13,000 transactions take place currently compared to about 1,400 in the first week of January this year.

The value of the transactions also follows the same pattern, having increased from over 800,000 in the month of January to over GH¢5.9 million last month.

The jump in the usage of gh-link AMTs shows that the banking public is patronising the convenience that the interbank payment platform has provided, since its introduction about a year ago.

The gh-link is an electronic platform which connects 27 financial institutions including three savings and loans companies, implying that customers of any of these banks can use the ATMs of the member banks.

The gh-link connects close to a thousand ATMs, making it the biggest and the most convenient platform compared to Visa and Mastercard in Ghana.

Speaking in an interview with Times Business Head of Business Development at GhIPSS Mary Dei Sarpong noted that gh-link was becoming the preferred platform because of the almost one thousand ATMs that local ATM card holders can access.

She explained that the migration of Savings and loans companies such as Ezi, First National and EB-ACCION, indicated that customers of these savings and loans companies could use the ATMS of universal banks and vice versa.

“The era where people went round in search of their bank’s ATM is becoming a thing of the past, because the next available ATM can be accessed,” she indicated.

The data shows that the topmost patronised ATMs by other bank customers are outlets owned by Ecobank, Societe General Ghana, Agriculture Development Bank and Zenith bank.

Mrs. Dei Sarpong stated further that with the gh-link, banks which do not have ATM outlets in some parts of the country could rely on the outlets of other banks to provide services to their customers.

She said the level of growth in the use of gh-linked ATMs was an indication that customers appreciate convenience and urged financial institutions to continue to work to create more convenience for their customers.

The GhIPSS Business Development Manager urged customers with local ATM cards to save time by using the next available ATMs and benefit from the technology.

GhIPSS is also working at converting the ATMs into hybrids implying that they would also accept e-zwich cards. - David Adadevoh

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