Ghana: ATM Cards to be used for purchases

Jan 23, 2013

Bank customers will soon be able to use their ATM cards to shop anywhere in Ghana, it has been announced.

The Ghana Interbank Payment and Settlement System (GHIPSS) said the new move is part of an effort to ensure people use less cash in transacting businesses in the country, The Chronicle reports.

By the end of March 2013, customers will be able to make payments with their ATM cards through point-of-sale devices deployed across Ghana.

GHIPSS CEO Achie Hesse told Citi Business News that this move "will increase the usage of spending off your card as opposed to going to an ATM and then withdrawing cash before, which is where we really want to get to."

He added that this is a step further towards an electronic payment society, encouraging Ghanaians to put their money at the bank and then have access to it.

Meanwhile, the Ministry of Communications in Ghana recently confirmed that it is working with the Central Bank in Accra to finalise the agreements which will aid the implementation of mobile money in Ghana.

Minister Haruna Idrissu said the ministry is preparing to finalise the agreements for the proposed plan of building a 'cashless society – and is pushing for the implementation of this policy by the middle of 2013, the Technology Banker reports.

He is hoping that operators will soon be able to start rolling out new mobile money infrastructures to improve the speed and quality of transactions.ADNFCR-2976-ID-801524463-ADNFCR