The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), Ghana’s national payment systems infrastructure provider, has entered into partnership with Visa, a global leader in digital payments, to facilitate digital payments in the country.
As part of the partnership, GhIPSS will process domestic transactions denominated in Ghana Cedi with Visa cards issued in Ghana.
Signing an agreement in Accra yesterday to seal the partnership, the Chief Executive Officer (CEO) of GhIPSS, Mr Archie Hesse, said the strategic collaboration was in line with the Bank of Ghana’s Guidelines for Domestic Processing of Payment Card Transactions with Payment Cards Issued in Ghana.
Mr Archie said in partnering with GhIPSS, Visa would take advantage of GhIPSS’ unique position as the national switch and a provider of interoperable platforms for digital financial services as well as its sixteen-year track record of processing payments domestically in Ghana.
GhIPSS, he said, would benefit from integrating Visa’s advanced payment processing technology into its platform to deliver Visa’s brand promise to domestic customers.
“Our partnership with Visa, a global brand that has extensive experience in digital payments, is an important step for our business. It is an outstanding opportunity for us to leverage Visa’s expertise and assets to get better at our craft while delivering value to Visa customers in Ghana,” Mr Hesse said.
Andrew Uaboi, The Vice President, and Cluster Head of Visa West Africa, Andrew Uaboi, for his part, said VISA was leveraging its global network to enhance the ease of making payments in Ghana.
He said VISA operated in about 250 markets across the country.
“This collaboration underlines our unwavering commitment to driving financial inclusion expansion across Ghana. We believe that by leveraging our global network and innovative payment solutions, we can empower individuals and businesses, fostering economic growth and prosperity for all.”
The Ghana Association of Banks, John Awuah, said the partnership would make life easier for the customers of the banks.
He said the partnership would help reduce the cost of sending and receiving money in the country.
BY KINGSLEY ASARE
