Tag: GhIPSS
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Banks, fintechs must educate customers on need to use e-cash – GhIPSS
The Chief Executive of the Ghana Interbank Payment and Settlement System (GhIPSS), a subsidiary of the Bank of Ghana, Mr. Archie Hesse, has called for increased education and active usage of available cashless payment solutions to help reduce the number of robbery attacks on persons carrying huge sums of cash. There has been an uptick…
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Stop withdrawing huge cash, use digital payments to reduce robbery attacks – GhIPSS
Mr. Archie Hesse, the Chief Executive of the Ghana Interbank Payment and Settlement System (GhIPSS), a subsidiary of the Bank of Ghana, is urging businesses and individuals to desist from withdrawing huge sums of money from the bank and rather liaise with their financial institutions or mobile money operators to raise their thresholds to allow…
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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…
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Digital transactions for 2020 up by 103% – GhIPSS report
In spite of the ravaging impact of COVID-19 on people’s lives and the operations of businesses in Ghana, digital payment and settlement products under the Ghana Interbank Payment & Settlement Systems (GhIPSS) saw impressive increases in both volume and value for the year 2020 compared to the same period in 2019. Latest data from GhIPSS…
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GhIPSS and its CEO pick GITTA award again
The Ghana Interbank Payment and Settlement Systems (GhIPSS) and its Chief Executive Archie Hesse have for the second year running won awards at the prestigious Ghana Information Technology & Telecom Awards (GITTA) held in Accra. Mr. Hesse was adjudged the Payment Systems Personality of the Year, while GhIPSS won the Payments and Clearing Technology Provider…
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Digital transactions from January-September 2020 up by 102% – GhIPSS report
Despite the debilitating impact of the COVID-19 pandemic on the lives of individuals and the operations of businesses in Ghana, digital payment and settlement products under the Ghana Interbank Payment & Settlement Systems (GhIPSS) saw phenomenal increases in both volume and value for the first three quarters of 2020 compared to the same period in…
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Movement of funds from bank accounts to MoMo Wallets and vice versa on the rise
Many people are taking advantage of Mobile Money Interoperability (MMI), to move money from bank accounts to Mobile Money (MoMo) wallets and vice versa. The overriding feature of the second phase of the MMI, is the financial inclusion triangle, that is the linking of bank accounts to MoMo wallets and e-zwich cards, which allowed funds…
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Mobile Money Interoperability volume jumps by over 400% in 2020 1st half
The volume of Mobile Money Interoperability transactions has shot up by over 444 percent in the first half of this year compared to the same period last year. This is contained in the Ghana Interbank Payment and Settlement Systems (GhIPSS) Half Year Performance report. According to the report, transactions from January to June 2020, stood…
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Use of electronic payment channels records 81% growth in 2020 1st half – GhIPSS
Latest figures from the Ghana Interbank Payment and Settlement Systems (GhIPSS) show that patronage of electronic payment channels that go through the GhIPSS platform, increased by 81 percent in the first half of this year compared to the same period last year. According to GhIPSS, the total volume of transactions spanning January to June 2020,…