The total amount of transactions recorded on the e-zwich platform for 2019 rose to ¢10.7 million as against ¢7.7 million recorded in 2018.
The growth which represents a 39 per cent increase over the preceding year's performance can be attributed to the use of the platform by government for the payment of beneficiaries of many social intervention programmes.
Speaking to Journalists at its annual media engagement, CEO of the Ghana Interbank Payment and Settlement Systems (GHIPSS), Archie Hesse, is confident the volume of the transaction on the electronic payment platform will record better growth this year.
The report also shows that more corporate institutions still prefer using the cheque book for payments for goods and services.
The GHIPSS processed a total of 38 million transactions in the year 2019 representing a 42 per cent increase over 2018 which stood at 26 million.
In line with the global trend, electronic payments in Ghana is moving towards mobile and other digital transactions.
According to Mr Hesse, the increased number of beneficiaries on the LEAP programme and National Service Personnel paid through e-zwich has contributed significantly to the growth for the digital platform in 2019.
“We are glad that government has embraced the system and endorsed the various payment platforms we introduced especially the e-zwich.
“When you look at the statistics, the performance of the e-zwich platform is basically as a result of government social intervention beneficiaries including, NaBCO, LEAP, School feeding etc. But we hope to improve upon it this year. The GHIPSS is anticipating a lot of digital payment systems this year and we're ready for it".
“We are working on reviewing the tariff for all digital transactions. What I can assure you is that the rate has dropped marginally from the previous charges when the mobile money interoperability has not been introduced,” Archie Hesse noted.
Meanwhile, the mobile money interoperability platform recorded a total of ¢9 million transactions in value.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
2024 Election: NDC accuses NPP of printing fake ballot papers
3 mins -
A democracy that fails to solve its own problems is a questionable democracy – Dr Muhammad Suleiman
6 mins -
Our fight against corruption is more talk, less action – Mary Addah
14 mins -
CHRAJ report settles matters against Kusi Boateng – Lawyer
20 mins -
Growing dissatisfaction with democracy demands citizen-centered governance – Mavis Zupork Dome
23 mins -
Ghana’s Democracy: Choices, not elections will drive change – Benjamin Offei-Addo
28 mins -
PRESEC-Legon marks 86 years with launch of groundbreaking AI lab on November 30
31 mins -
Limited citizen participation threatens Ghana’s democracy – Prof. Kwesi Aning
41 mins -
Contractor storms basic school to drive out students from classroom, claiming government owes him
60 mins -
The quest for peaceful election: religious and traditional leaders should be part of election observers
1 hour -
NDC has better policies to boost economy through agricultural, oil sectors – Ato Forson
1 hour -
Yaw Ampofo Ankrah calls for Kurt Okraku and Executive Council to resign over AFCON failure
1 hour -
Coalition of teachers to boycott December election over unpaid salary arrears
1 hour -
Uphold ethics in fight against fraud – First National Bank CEO
1 hour -
CHRAJ recommends forensic audit of National Cathedral project
1 hour