GhIPSS to focus on adoption of payment platforms— CEO

ezwich cards

• The use of the e-zwich for transaction has recorded significant improvement.

The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), says it is in the process of acquiring more e-zwich Point of Sales devices (Pos) for commercial banks to buy for onward sale to the various merchants.

The move according to GhIPSS is to further promote the use of the e-zwich for transactions and push the agenda of making the Ghanaian economy a cash -lite one.

Speaking during a media engagement event in Accra Mr. Archie Hesse, Chief Executive Officer, GhIPSS said the low usage of e- zwich cards to pay for goods and services could be attributed to inadequate number of Pos.

He said his outfit would this year focus on the adoption of the numerous payment platforms it had rolled out.

GhIPSS is a wholly owned subsidiary of the Bank of Ghana incorporated in May 2007 with a mandate to implement and manage interoperable payment system infrastructures for banks and non bank financial institutions in Ghana.

In line with its mandate, GhIPSS has implemented and currently manages the National Switch and Biometric Smart Card Payment System, e-zwich and the Cheque Codeline Clearing (CCC) and Automated Clearing House (GACH) systems.

Mr. Hesse said plans were far advanced between his outfit and some remittance companies to allow direct remittance onto e-zwich cards.

“When this is done you can directly receive remittances onto your e-zwich card. This will do away with the usual bottlenecks associated with receiving remittances from abroad,” he said.

Providing figures to show the performance of the e-zwich for transactions he said the total value of transactions recorded on the e-zwich platform last year reached GHcc¢922.3million, a more than 238 per cent increment on the 2014 transaction value of GHS 272.7 million.

Mr. Hesse attributed the increase partly to the use of the e-zwich for the payments of allowances for national service personnel, beneficiaries of the Livelihood Empowerment against Poverty (LEAP) and the payment made to caterers under the National School Feeding Programme.

To further encourage usage of the platform, he said GhIPSS would engage with the government to ensure that beneficiaries of the Youth Employment Agency (YEA), as well as the Controller and Accountant-General’s Department (CAGD), are paid via the e-zwich platform.

Mr. said there was the need for Ghana to take cue from Nigeria to provide some incentives for individuals who transact businesses through the use of payment cards.

This he said would greatly improve our quest for making the Ghanaian economy a cash-lite one.

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