List of all articles filed under “ghana-financial-services” category.
GhIPSS has commended organisers of Ghana’s premier pop-up market, Selewa Market, for creating a platform for shoppers to use electronic forms of payment at the fair. Selewa Market has provided an avenue for businesses, both SMEs and corporate organizations, to converge at one venue to sell and promote their products and services.
According to the Ghana Interbank Payment and Settlement System (GhIPSS), virtually every company or organisation in Ghana which has used the e-zwich to pay various remunerations have made some savings. While some have saved up to millions of Ghana cedis others have saved several thousands of Ghana cedis.
The public has been urged to resort more to electronic forms of payment in order to reduce their exposure to armed robbery and related risks. The Chief Executive of Ghana Interbank Payment and Settlement System (GhIPSS), Archie Hesse gave the advice following reports of two separate armed robbery attacks in two successive days and other instances, in which huge sums of cash were believed to have been stolen.
According to Archie Hesse, a concerted effort is required to populate Ghana with many point of sales (POS) and other electronic payment channels. He said the State, stakeholder institutions and business owners, must work together to ensure effective deployment of POSes and other devices that accept electronic payments.
Large corporate organisations and public sector institutions can receive instant payment electronically if they sign onto the e-bills pay system introduced by Ghana Interbank Payment and Settlement System (GhIPSS). This should address payment challenges and improve efficiency at these organisations.
The use of e-bills pay, an electronic payment system that enables large corporate institutions to receive payment via the internet or mobile applications, can reduce the human interface and help bring down corruption at public institutions. E-bills pay is one of the latest initiatives by Ghana Interbank Payment and Settlement Systems (GhIPSS), the national payment infrastructure provider.
There are clear indications that bank customers prefer to have instant access to their money as demand for express and instant services surge. The 2017 performance report issued by GhIPSS shows that the transactions with the highest growth were express cheque, express ACH Direct Credit and the GhIPSS Instant Pay (GIP).
Archie Hesse presents GhIPSS (Ghana Interbank Payment and Settlement Systems Limited), a wholly owned subsidiary of the Bank of Ghana incorporated in May 2007 with a mandate to implement and manage interoperable payment system infrastructures for banks and non bank financial institutions in Ghana.
Archie Hesse, CEO of GhIPSS (Ghana Interbank Payment and Settlement Systems Limited), talks about payment system infrastructures in Ghana.
“BEIGE besides Banking, does Pensions, Investments, Insurance, and we also have a private equity wing that is investing actively in small sized companies in the country. Our portfolio has increased more than six fold in the past three or four years.”
