GhIPSS to outdoor bank card with two functionalities

GhIPSS is set to launch a bank card which has the functionalities of an e-zwich and gh-link card today as part of efforts to encourage the use of cards for transactions.

The GhIPSS in a press statement copied to the Ghanaian Times said the dual car was to provide the public with the option of carrying one card with dual functionalities instead of two separate cards.

The statement said the e-zwich had seen steady rise in transactions over the past years and in the first half of this year alone, over 5.5 million e-zwich transactions took place, representing an increase of over 51 per cent over the same period in 2018, which was about 3.6 million transactions.

“The continuous growth in e-zwich transactions suggests that there are several people who use e-zwich cards but also have their regular gh-link cards and are compelled to carry both cards at all times. But with the introduction of the new card, such people can opt for it but still enjoy the functionalities of both,” the statement said.

It said it was anticipated that more people would be inclined to carry one card and use it regularly than to carry two or more cards each time. 

Commenting on the launch of the dual card, the Chief Executive of GhIPSS, Archie Hesse said, the products and services being introduced by his outfit at promoting electronic payments were yielding positive results and new initiatives would be continued to be rolled out to further deepen electronic payments in Ghana.

“Although cash transactions continue to dominate, available figures point to a gradual reduction, as the volume of electronic payment transactions sees consistent growth. In the first half of this year, the volume of electronic payment transactions monitored by GhIPSS stood at over 16 million compared to 12.2 million transactions for the first half year of 2018, representing an increase of over 31 per cent,” he said.

Mr Hesse said in order to continue to reduce cash base transactions, various efforts continued to be pursued by key stakeholders such as GhIPSS, the banks, Fintechs and other related organisations, adding that  the “launch of the new card is therefore one of such efforts to encourage more people to opt for electronic payment channels”.

BY TIMES REPORTER

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