imported 2024-03-17 17:43:08
Claud Kweku Hutchful, CEO of DreamOval, gives an overview of the fintech industry and payment applications sector in Ghana, and presents DreamOval, a software development house with a focus on fintech, as well as a financial services company.
Claud Kweku Hutchful, CEO of DreamOval, explains what are the latest trends and developments in the fintech industry and payment applications sector in Ghana.
Henry Sampson talks about the fintech industry in Ghana and presents DreamOval. Organized as a limited liability company incorporated in Accra, Ghana, in 2007, DreamOval is a software development house that focuses on tech-based innovations. The company was elected Ghana’s 2015 software company of the year. Its core mission is to provide the essential platform for electronic business activities for Africa.
The e-bills system, which is the latest initiative by the Ghana Interbank Payment and Settlement Systems (GhIPSS), enables various institutions to transact business and receive payment instantly through electronic means. As such, there is a huge business potential for financial technology service providers, known as Fintech companies, to support organisations to set up their system in order to use the e-bills pay.
Banks and third-party companies in Ghana have been commended for their role in driving patronage for electronic payments in the past year. The role by these institutions and their customers, have led to significant growth in the various electronic payments products and services, as noted by the management of Ghana Interbank Payment and Settlement Systems (GhIPSS).
As part of the effort to drive non-cash forms of payments in Ghana, a number of banks and financial institutions are offering discounts to customers who shop off their debit cards at particular shopping outlets. GhIPSS’s CEO, Archie Hesse, called for more collaborations between banks and merchants so that such incentives can be provided regularly.
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.
