The Chief Executive of the Ghana Interbank Payment and Settlement Systems (GhIPSS), Archie Hesse, says his outfit, has started a campaign to encourage the use of digital payment systems across the country.
The electronic payment platforms in Ghana range from Automated Clearing House (ACH) through GhIPSS Instant Pay to paying with cards and Mobile Money.
Proponents of the proxy pay and Universal QR Code platforms say it is a cost-effective way of payment which will among other things allow for mass participation.
The Universal QR Code solution works like a barcode at the supermarkets where a buyer scans the displayed QR code to complete payments.
Very few people have signed up for the system since it was launched in March 2020.
But in an interview on the Citi Breakfast Show, Mr. Hesse said GhIPSS is seeking to address this concern by embarking on a massive awareness creation campaign across the country.
“We have started a three months campaign, between now to the end of February to encourage merchants to go in for their QR codes. We are also working with the financial institutions and mobile money entities to give their customers QR codes, to ensure that they are ready to receive QR payments. I am sure that very soon, we’ll see it work.”
“We have well over 3000 merchants, and yesterday one of the banks contacted us, with a roll-out plan, in which they have deployed teams in all the regions to ensure that all their customers are furnished with a QR code. I am very confident that come December, we will start seeing it. And we are definitely going to create a lot of awareness around it. We will then review it to see if there is a need to continue it,” he added.
He also indicated that “the GCB bank, Ecobank, Fidelity bank, CalBank, UBA, Zenith bank, Consolidated Bank Ghana (CBG), adb bank, Bank of Africa, G-Money, among others are ready to operate the system.”
With the rolling out of the platforms, Ghana joins countries like China, Singapore, India, Indonesia, Malaysia, and Thailand to promote digital payments.
Bawumia buys waakye using QR Code; urges Ghanaians to sign up for digital payments
The Vice President, Dr. Mahamudu Bawumia, hit the street of Accra on Thursday, November 19, 2020, to formally outdoor the Universal Quick Response (QR) Code and Proxy Pay system.
As part of this, Dr. Bawumia set the tone by buying waakye with the digital payment system.
The QR Code and Proxy Pay platforms, which were launched in March 2020, are part of plans to enhance digital payments as the government pursues a cash-lite agenda.
The Vice President said the QR Code makes it possible for all merchants, service providers, and institutions to receive payments from bank accounts, e-zwich accounts, mobile money wallets, or internationally issued visas or MasterCards instantly.