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VideosJanuary 14, 2019
PaySwitch: Card Issuing, Payment Gateways, ATM and POS Management in Ghana
- Written by Sandra Francisco
- Published: January 14, 2019
Kojo Choi, Chairman and CEO of PaySwitch, mentions some of the company’s solutions, such as card issuing, payment gateways, as well as ATM and POS management in Ghana.
"Primarily, we are the missing link which is being a processor. So, we handle both the issuing side and the acquiring side. On the issuing side, we issue cards, both foreign and local, and provide that to the banks and to savings and loans companies. Processing comes with acquiring services so we provide the banks with POS terminals. The benefit of this is that such transactions are no longer processed outside the country but locally. That is what we do primarily as a local processor. Additionally, we have built our own solutions, such as payment gateways. There could be so many different payment aggregators in the market and all these different payment aggregators have developed their platform themselves or they went to a platform service provider. We make anybody become an aggregator on any given day. We provide that payment gateway as a white label product. We provide this to both banks and companies that use our gateway, so individual merchants can now make and receive payments digitally through our platform. We have also created a marketplace similar to Alibaba. The merchants that want to be listed on this marketplace can list making it easier for the customers to search in this marketplace to better locate the merchant. We enable that payment for them. Currently, our switch is connected to VISA and MasterCards. We are in the process of connecting to pay cards in China. It is also connected to the telcos and the banks through the national switch, GhIPSS (Ghana Interbank Payment and Settlement Systems Limited), enabling 360-degree transactions through our switch", says Kojo Choi.
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