GhIPSS advises businesses to brace for online payment

•   Mr. Archie Hesse

• Mr. Archie Hesse

Businesses must make ready their websites for online payments as plans are underway to launch the Internet Payment Gateway, Archie Hesse, Chief Executive of Ghana Interbank Payment and Settlement System (GhIPSS), has said.

He said the online payment could lead to a boom in business, especially for those who position themselves for it.

Speaking in an interview with the Ghana News Agency, in Accra, Mr. Hesse said efforts were underway for the Internet Payment Gateway to go live soon.

He said GhIPSS had noted the increasing interest in online advertising and the growth in enterprises, selling various products and services through social media sites.

He commended the initiative and said GhIPSS was going to provide a robust payment system so that such businesses would not only advertise online, but could also receive payment.

The GhIPSS was set up by the Central Bank to migrate Ghana into an electronic payment community and had, since its establishment, introduced alternative payment systems to reduce over-reliance on cash.

Some of these are the Direct Credit and Debit, under the Automated Clearing Housing, e-zwich biometric smart card, electronic clearing of cheques and gh-link hybrid Point of Sales.

These various electronic payment systems had been recording growth year on year, implying that the use of cash as a form of payment might not be as high as it used to be.

Mr. Hesse said the online payment gateway, which is the next electronic payment to be launched, would enable the public to use their ATM cards to pay for items online.

He said, businesses which would want to sell and receive payment online must have functional websites and must be established to receive payments.

He, therefore, urged businesses to contact their banks or GhIPSS to assist them in the process.

He said although GhIPSS had lined up a number of educational activities to inform the public about the online payment gateway, businesses, which proactively get themselves ready to accept online payment, would derive many benefits and get ahead of the competition.

Mr. Hesse said many new businesses would emerge as soon as the online payment picks up, and urged entrepreneurs to strategise and take advantage of the opportunities.

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