Ghana authorities support banks' electronic payment services

The Ghana Interbank Payment and Settlement Systems (GhIPSS) is encouraging the use of electronic payments services in the country after Guaranty Trust Bank (GT Bank) introduced Remote Cheque Capturing service.

The Ghana Interbank Payment and Settlement Systems (GhIPSS) is encouraging the use of electronic payments services in the country after Guaranty Trust Bank (GT Bank) introduced Remote Cheque Capturing service.

Using this service, corporate customers can process their cheques by just scanning them from the comfort of their offices, bypassing the need to visit the banking halls.

GhIPSS CEO Archie Hesse stated that the service was exciting and would encourage many companies to prefer cheques as a mode of payment to cash.

The development forms part of strategy to transform Ghana into an electronic payments community, by reducing on cash transactions, added Hesse.

GhIPSS has also urged financial institutions to persuade its clients to use electronic services such as Direct Credit to pay salaries.

Hesse further added that even retail or individual customers of the banks should be encouraged to use their ATM cards to shop on Point of Sales (POS) terminals, besides promoting electronic payment products for corporate clients.

The introduction of the hybrid POSes that accepts both local ATM and e-zwich cards can drive the use of cards for shopping instead of cash, GhIPSS stated.