Ghana : Banks and GhIPSS to integrate Internet portals

Jun 27, 2013

Banks are to integrate their internet portals to the Clearing House Gateway to ensure smooth interbank transfers.

Banks are to integrate their internet portals to the Clearing House Gateway to ensure smooth interbank transfers.

Archie Hesse, the Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GhIPSS),
explained that this integration should make transfers faster, enticing more customers to use internet banking, which could reduce the number of people visiting banking halls and easing pressure on bank staff.

"The move will give meaning to branchless banking and will bring a lot of convenience to bank customers who will no longer need to be physically present at a banking hall in order to transfer money," Hesse said.

This should also lead to a reduction in cash transactions, as bank customers will be able to effect payment from their computer and mobile phones with internet access. More funds will stay within the banking sector, which would increase the banks' liquidity.

Humanipo.com reported last week that the German government had granted a loan of around $10.6 million at six per cent to GhIPSS, for commercial banks to buy the necessary infrastructure.

This should give the integration programme a further boost after it suffered delays since its inception in 2007.ADNFCR-2976-ID-801604955-ADNFCR