GHANAIANS URGED TO EMBRACE ELECTRONIC PAYMENTS LIFESTYLE

ACCRA, The chief executive of Ghana Interbank Payment and Settlement Systems Ltd (GhIPSS), Archie Hesse, has urged Ghanaians to adopt electronic payment as a lifestyle to enable the country to derive maximum benefits from the infrastructure which has been put in place.

He said here Monday that service providers and consumers must lean toward electronic payment in offering services and consuming them, using the platforms available, including GhIPSS, a wholly-owned subsidiary of the Bank of Ghana, which has been in existence for a decade and has together with financial institutions rolled out a number of electronic payment channels.

Telecommunication companies (telcos) have also rolled out electronic payment channels working with financial institutions and Fintech companies. These two broad platforms will eventually be linked in a total inter-operability project being championed by the Vice-President, Dr Mahamudu Bawumia

Hesse said in an interview that the complete inter-operability of the systems should make payment seamless and convenient from varied electronic channels. However, he said, this leap in the country’s payment system must be accompanied with a shift from cash to an electronic payment lifestyle.

He said the acceptance of cards, mobile money and other electronic forms of payment such as Instant Pay, Direct Credit and Debit should become the norm. Utility companies, government agencies and private businesses should offer electronic payment channels such as mobile money and point-of-sales devices and even offer incentives to customers who use them.

He explained that because the use of these channels saved the companies money, they could take part of the savings and offer them as the incentives to customers. Such motivations and a general policy direction from government should help migrate Ghana into an electronic payment society.

Source: NAM NEWS NETWORK

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