Tag: GhIPSS
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Telecoms Chamber contemplates possible reduction in MoMo charges to boost digital transactions
The Ghana Chamber of Telecoms says it is holding emergency discussions with relevant stakeholders, to possibly reduce mobile money charges across all networks, to improve the usage of such platforms for transactions as against the use of cash. This follows concerns that the continuous use of cash by the general public could aid in spreading…
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GhIPSS’ role in payment system space must be properly defined – MTN Mobile Money Manager
The General Manager of Mobile Money Limited, a subsidiary of MTN Ghana, Eli Hini, says the role of the Ghana Interbank Payment and Settlement Systems, GhiPSS in the country’s payment system has to be properly defined. According to Mr. Hini, there is a lack of clarity regarding what functions GhIPSS performs especially with the passage…
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Corporate Ghana still relies on cheque payments; individual cheques drops significantly
The Ghana Interbank Payment and Settlement Systems, GhIPSS, says even though the use of cheques among individuals has decreased, the number cash cheques cleared by companies keep increasing. According to GhIPSS, the value of cash cleared through cheques went up significantly in 2019 reaching over 207 billion cedis. Speaking to Citi Business News, the CEO…
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GhIPSS anticipates high patronage of universal QR Code for electronic payments
The Ghana Interbank Payment and Settlement Systems, GhIPSS, says it is anticipating a high patronage of a new QR Code for retail purchases and other transactions. Currently, almost all banks have their unique QR codes for electronic payments, a development that restricts customers to only use their bank’s QR Code at a point of sale.…
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GhIPSS to launch universal QR Code payment system for all banks in March 2020
The Ghana Interbank Payment and Settlement Systems (GhIPSS) says it will launch a universal QR Code for all banks in March this year to harmonize QR Code payment systems in Ghana. Currently, almost all banks have their unique QR codes for electronic payments, a development that restricts customers to only use their bank’s QR Code…
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![[Editorial] ‘Ghost workers’, your time is up](https://citibusinessnews.com/wp-content/uploads/2019/08/WhatsApp-Image-2019-08-07-at-2.01.50-PM.jpeg)
[Editorial] ‘Ghost workers’, your time is up
They are virtually everywhere – on government payroll, pensioners’ payroll and even the payroll of the Livelihood Empowerment Against Poverty (LEAP) programme, where reports indicate that relatives of dead beneficiaries continued to receive monies without informing the Social Department of the Ministry of Gender, Children and Social Protection, which passed such payments. To say the…
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Gov’t to use GH-Dual Card to fight ghost names — Dr. Bawumia
As part of government’s efforts to rid its payroll of ghost names, Vice President Dr. Mahamudu Bawumia has said public workers will soon be required to obtain the new biometric GH-Dual Card which combines the functions of e-zwich and gh-link payment systems. Vice President Dr. Mahamudu Bawumia who made this known at the launch of…
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Bawumia set to launch GhIPSS card with dual functionality
Vice-President Dr. Mahamudu Bawumia will on Wednesday, August 7, launch a GhIPSS bank card, which has the functionalities of an e-zwich and gh-link card, as part of efforts to encourage the use of cards for transactions. It is to provide the public with the option of carrying one card with dual functionality instead of two…
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Banks to start operating MoMo points directly from July–BoG
The Bank of Ghana (BoG) is predicting stiffer competition as banks prepare to directly operate mobile money(MoMo) vending points through the Electronic Payment and Financial Services law from July 2019. By this, banks in the country will be allowed to brand specific points to render mobile money services. Speaking to Citi Business News on the…
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Mobile Money interoperability records more than 4.4 million transactions
Mobile Money Interoperability (MMI) recorded more than 4.4 million transactions in its first year of operation. Beginning with just 96,907 transactions in its first month, public usage of the cross-network platform grew phenomenally to 422,275 transactions in December last year and 502,873 transactions in May this year. MMI or seamless cross mobile money network…