GhiPSS Launch Two Online Payment Services

ATMGhana Interbank Payment and Settlement Systems (GhIPSS) launched two major payment systems intended to transition Ghana into a cashless era.

The systems, gh-link e-Commerce and the GhIPSS Instant Pay will provide services that enable users to buy and make payment without the exchange of physical cash.

Gh-link e-Commerce enables local businesses in both the commerce and service industries to receive payments and donations online from domestic Automated Teller Machine (ATM) cards whilst GhiPSS instant Pay would enable individuals transfer funds from one bank account to another, even if the accounts belong to different banks.

According to the Chief Executive officer of Ghana Interbank Payment and Settlement System (GhiPSS), Mr. Archie Hessey, all transactions or transfers reflect instantly.

In his address, he noted that Ghana needed to evolve its payment system alongside the business landscape to meet the needs of business and individuals.

“Today, we are confident that by enabling the domestic ATM to be accepted for payment online a major void has been filled. This should serve as an encouragement for potential e-commerce companies to start re-aligning their business strategy for the future,” he said.

Mr Hesse further noted that the systems have a potential of creating more jobs in the courier, shipping and IT services industries.

Launching the services, Dr. Henry Kofi Wampah, Governor of the Bank of Ghana stated that the services would lead to an expansion of Ghana’s economy with great benefits to private companies, government agencies as well as educational institutions and eCommerce businesses.

While commending mobile telecommunication companies for leading the way through mobile money services, Dr. Wampah called on telcos to form strategic alliances with financial institutions to offer other services such as credit facilities and insurance packages.

He added that the BoG had instituted regulations to strengthen the operations of mobile money and to ensure the protection of customers.

On his part, Mr. Simon Dornoo, President of the Ghana Association of Bankers, said the association welcomed the new systems and urged Ghanaians to take advantage of it to cultivate the culture of saving.


“The payment system that will be launching today are in furtherance of the goal of keeping money in the bank. Having an online payment gateway means that even in the middle of the nights. This initiative should encourage the public to put these monies in the bank.”


The ceremony was witnessed by key stakeholders in the banking and insurance industries as well as some school heads and operators of some eCommerce businesses.

Managing Director of Carmudi Ghana, an online classified website for cars, Kobina Amoo told Univers news the initiative was laudable and will enhance transactions between the company and its clients.

“For us at Carmudi this event, this is great news. The GhiPSS eCommerce initiative will make transactions among our sales and marketing team and dealers swift and efficient whiles while saving both parties time and money.” Mr. Amoo said.



By: Jonas Nyabor/233livenews

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