Tag: Payment Systems and Services Bill
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Non compliant fintechs to lose licenses – BoG
The Bank of Ghana will revoke the license of any financial technology company that fails to comply with regulatory requirements outlined in the new payment systems and services bill. The fintechs are expected to be compliant at a time where electronic payment systems are increasing significantly. This caution is also contained in the Bank of…
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Three banks to begin their own version of mobile money
At least three banks are set to commence the issuing of electronic money which will allow customers transfer money on a virtual platform. According to the Bank of Ghana, the development forms part of efforts to reduce the use of cash and switch to a more cashlite economy. Citi Business News understands that this development…