GhIPSS launches GhanaPay to integrate mobile money and banking services


The Bank of Ghana and the Ghana Interbank Payments and Settlement System (GhIPSS) have introduced another innovation to complement mobile money and banking services.

Known as GhanaPay, it has functionality that will integrate banking services including rural banking and mobile banking.

GhIPSS Managing Director Archie Hesse in an interview with Joy Business said the platform will be used to address the challenge faced by the rural unbanked population.

According to him, this is essential for the agenda of the digital economy.

“This initiative gives banks the opportunity for a platform to issue a mobile money account to customers and individuals who cannot secure a bank account for one reason or another. So we are not relying solely on fintechs and mobile money agents for transactions on the mobile money platform,” he said.

The introduction of GhanaPay complements measures to accelerate Ghana’s migration to electronic payments and encourage the banking industry to collaborate and further explore more innovative ways to achieve greater efficiency in the payments ecosystem.

In a speech to launch the system, Vice President Dr. Mahamud Bawumia announced that the new digital era requires the collaboration of all stakeholders, including financial service providers, to ensure a secure payment ecosystem. .

Governor of the Bank of Ghana, Dr Ernest Addison described the entry of Ghana Pay as a useful tool to support the financial payments ecosystem.

“With the introduction of GhanaPay, the banking industry can fill this gap in the market through continued collaboration to broaden merchant acceptance with a greater focus on lower tier merchants. There is no doubt that proper support to the payment systems value chain and public education, lightweight infrastructure solutions such as GhanaPay, can boost the acceptance of electronic payments.

The introduction of GhanaPay is commendable, but there is still room for expansion and banks need to step up their efforts to digitize the value chain for both merchants and users through the digitization of ATM payments.

Wholesalers and retail outlets

GhanaPay will allow consumers to have both mobile money and banking services on their mobile phone at no additional cost except payment of electronic transaction tax (e-levy) each time a transaction is made.


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