The Ghana Interbank Payment and Settlement System (GhIPSS), has allayed fears that the growing number of mobile money subscribers on its Instant Pay platform could crash the system in the future.
Some observers of the financial space who raised the concern say the current system run by GhIPSS may not support the huge mobile money subscribers that keep increasing.
In 2019, GhIPSS processed 38 million interbank transactions, representing a 42% increase over 2018.
This was achieved by moving funds from bank accounts to mobile money wallets and vice versa.
Speaking to Citi Business News, the CEO of GHIPSS, Archie Hesse, said GhIPSS’ new infrastructure is robust and can support the volume of transactions in Ghana.
“We have the best, and in terms of memory size and capacity, we have a very huge size such that we don’t believe that we will have any capacity issues. We have migrated to the new infrastructure, that is, the back end. We have also bought some front end service to ensure that we don’t have one traffic going through one front server. We have a number of them that we have separated; so, for instance, you have XYZ going through ABC server. In addition to that, we have bought a load balancer, and this has a scientific way of looking at the load and determines where there is less traffic and directs traffic to the place,” he added.