Tag: Payment systems
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Dr. Bawumia calls for stakeholder collaboration to improve intra-African payment systems
Vice President, Dr. Mahamudu Bawumia has charged Central Bank governors across Africa to facilitate collaboration amongst key stakeholders to help with the integration of payment systems on the continent. According to the World Economic Forum, payments which have always been the lifeblood of trade will be key for intra-African trade, which covers 55 countries with…
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BoG pegs minimum capital for Mobile Money companies at GH¢20 million
The Bank of Ghana has pegged the minimum capital required for operating a mobile money company at GH¢20 million. The latest directive comes on the back of the recently passed Payment Systems and Services Act, 2019 (Act 987) which provides a legal and regulatory framework for the orderly development of the country’s payment system. The…
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Ghana is undisputed leader in electronic payments in Africa – Veep
Vice President Dr. Mahamudu Bawumia on Wednesday touted Ghana’s electronic payment credentials, saying that, the country is the undisputed leader in the payment systems arena in Africa. He mentioned the mobile money interoperability payment system that enabled one to transfer money from his/her bank account to the mobile money wallets conveniently as one of the…
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Gov’t to launch new payment method using the universal QR codes — Dr. Bawumia
The universal QR code is the world’s first interoperable payment acceptance solution and provides customers with an easy option for digital payment on business transactions, which reduces the technological challenges associated with operating cash-lite society. The universal QR code will allow merchants to receive digital payments without the use of Point of Sale devices…