GhIPSS

News & Events

GhIPSS introduces hybrid point of sale device
GhIPSS introduces hybrid point of sale device
Source: GNA Date: January 2015 Tag: News

The Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems limited (GhIPSS), Mr Archie Hesse, has said his outfit has come out with a hybrid point of sale (PoS) device that can accept both e-zwich card and note that local cards.

He said there were about 2,000 of the PoS adding that GhIPSS was ready to partner with the banks to deploy to the locations so individuals could go to the merchants and start shopping directly with them.

The e-zwich payment system is an innovative method for improving accessibility to banking and retail services in Ghana.

Speaking at the launch of the 13th Ghana Banking in Accra on June 9, he said should all the banks offer e-zwich services, individuals were likely to own the card and go to the banks for the funds as and when they needed it.

"Also, if everybody owned an e-zwich card, the merchants will automatically have PoS devices and we don´t have to even pay for them," he added.

"So the onus lies on the banks, and noted that it is surprising that to date, some banks still think the e-zwich is in competition with their products. There are some banks that still believe that the float on the card is at GhIPSS or it is at the central bank and not the bank end," he said.

He said the benefit of using e-zwich far outweighed the teething issues, especially looking at the fact that the amount of fraud with regards to the card system was high. Therefore, he noted any move to let the public know about its importance will go far.

"It is has been six years now and the amount of fraud with e-zwich is nil because there is no one else who can access your card; It is biometric and there is a lot of security," he said.

He said considering the opportunity cost of what would have been lost in the course of offering a card that is foreign and is not often used by customers, the e-zwich is better.

"How many people travel outside Ghana to use their visa cards? but then banks are prepared to pay a huge amount of money to Visa and give the card to individuals for prestige purposes. In every country, they have their own local cards, go to Canada, Australia and the rest so why can´t we have ours and make it local," he said.

Card Fraud
According to Mr Hesse, gangsters are able to commit crime even outside a country because often times, card systems are not localised but since e-zwich is localised, it will reduce crime. He said a lot of education had to be done at the individual, bank, corporate and merchants level, and particularly, with the media as collaborators, the objectives may be met.

Mr Hesse said although GhIPSS was an infrastructure company, it was ready to assist banks to use their platforms to serve their clients

  • Current News & Events
    • new
      Value of GhIPSS transactions hits GH¢ 174.5bn
      The Ghana Interbank Payment and Settlement Systems Ltd (GhIPSS) has witnessed consistent growth in the value.... read more»
    • new
      E-zwich patronage grew by 140% in 2016
      The use of the biometric smart card, e-zwich, experienced exponential growth last year after series of mechanisms... read more»
    • new
      Foreign remittance to bank accounts and e-zwich cards now a reality in Ghana
      Recipients of foreign remittance can now opt to have the money paid directly to their bank account.... read more»
    • new
      Six government programmes use e-zwich for transparency
      Some six government social interventions and programmes have since June adopted e-zwich.... read more»
    • new
      GhIPSS to work with stakeholders to ensure telcos interoperability
      The Chief Executive Officer of Ghana Interbank Payment and Settlement System (GhIPSS) ... read more»
    • new
      GOVERNMENT CALLS FOR INTEROPERABILITY BETWEEN BANKS, TELCOS
      Government has called for a collaboration among financial stakeholders ... read more»
    • new
      Gender Ministry to disburse LEAP funds via e-zwich
      The Ministry of Gender, Children and Social Protection is expected to disburse January... read more»
    • new
      GhIPSS provides multiple outlets for e-zwich users
      Regular users of e-zwich cards, including National Services persons, students and beneficiaries of various government social ... read more»

    Top