Tag: GhIPSS Instant Pay
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Real time payments such as GIP and Mobile Money interoperability becoming the favourite of many
Customers’ preference for real time payment channels is becoming abundantly clear, as such products continue to register impressive growth in patronage. The GhIPSS Instant Pay (GIP) platform which enables payments made across different banks to be effected instantly, has been recording impressive growth in volume year on year. Total volume of GIP transactions from January…
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GhQR was designed to replace more expensive payment systems – Archie Hesse
Chief Executive of the Ghana Interbank Payment and Settlement System, Archie Hesse, says the GhQR code payment service has been designed to replace the relatively more expensive payment systems found in shopping centres across the country. The GhQR code system of payment is a contactless mode of payment involving the scanning of a QR code…
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Mobile Money Interoperability transactions went up by 367% in 2020
Latest data from the Ghana Interbank Payment & Settlement Systems (GhIPSS), indicate that a total of 43.9 million transactions were processed under the Mobile Money Interoperability (MMI) system in 2020, representing a 367% increase from the 9 million transactions processed in 2019. According to the report, the MMI performance was driven by three use cases…