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The National Service Scheme (NSS) has continued to benefit from the savings made with the use of e-zwich to pay allowances of personnel.

The Acting Executive Director of the National Service Secretariat, Mustapha Ussif, who disclosed this in an interview, said the e-zwich system had helped clean up the payroll and ensured that the allowances are paid to the intended persons.

The Scheme opted for the use of the biometric electronic payment system in 2015 and made a savings of about GH¢170 million due to the detection and removal of ghost names and duplications from the payroll.

Two years on, allowances paid to the National Service personnel continues to come from the savings made with some GH¢60 million still available.
Mr. Ussif resolved to ensure that the Secretariat operated effectively and efficiently.  He said the management team were determined to ensure the smooth operation of the scheme and that only the right people get paid the allowances.

He commended the Ghana Interbank Payment and Settlement Systems (GhIPSS) for the initiative and suggested if they could device a system that will enable funds that are not accessed on the cards to be recalled automatically.

The success chalked with the payment of National Service allowance with e-zwich encouraged government to extend the payment system to other institutions such as the Youth Employment Agency and lately the trainee teachers and nurses allowances, leading to a significant increase in the number of e-zwich card users to about 2.3 million

The Deputy Executive Director of NSS, Gifty Oware-Aboagye, on her part explained that the use of the e-zwich has also prevented people from reapplying to the Scheme with different identities as was the case previously. She said the bio-data of such people gave them up and they were immediately taken off. 

The Chief Executive of GhIPSS, Archie Hesse, commended the management of the NSS for the effective manner they have allowed the payment system to work.

He said GhIPSS would continue to work with the Secretariat to explore other means to ensure that they always derive the maximum benefit of the e-zwich payment system.

He suggested that part of the savings government makes through the use of e-zwich could be used to support the purchase of additional hybrid Point of Sales devices so that e-zwich cardholders such as the National Service men and women can have more outlets to use their cards.

Mr. Hesse also encouraged private organisations to also use e-zwich for the payment of various emoluments because it is safe, quick and helps clean up payrolls.

GNA

IP patronagefThe use of Instant Pay for funds transfers or payments, continue to record impressive growth, latest figures from the Ghana Interbank Payment and Settlement Systems (GhIPSS) have shown.

According to the GhIPSS 2019 Half Year Industry Performance Report, the volume of the GhIPSS Instant Pay (GIP) transactions shot up to 350,666 between January and June this year compared to 57,301 recorded over the same period last year. This represents a huge growth of 512 per cent.

The growth in the patronage of GIP has been consistent. In the first quarter of this year, it grew by 423.9 per cent from 24,227 in the first quarter of 2018 to 126,925 transactions. The higher percentage growth in the half-year performance indicates that patronage keeps rising.

Instant Pay is an electronic payment system that enables a customer to transfer money from one bank account to another of a different bank and the transfer is effected instantly.

Various banks offer Instant Pay on different platforms including internet and mobile banking platforms and some banks have christened it differently. The generic name in Ghana however is GhIPSS Instant Pay (GIP) Instant Pay, just as other products by GhIPSS, are offered by the banks to the public.

However, because the GIP platform enables real instant transfers, many financial institutions and Fintechs are using it to support various other products. It is therefore highly possible that any real time electronic payment that you make, regardless of name given to it by the service provider, is running on GIP.

The Instant Pay platform was introduced to make it possible for individuals and businesses to be able to meet urgent payment commitments and without the need to physically move to a banking hall.

It is part of the major efforts to encourage people to keep their money with the banks, knowing that they can access it and make instant payments with their funds even though they are lodged with a bank.

Chief Executive of GhIPSS, Mr Archie Hesse is hopeful that patronage for Instant Pay will continue to go up since there was a real need for it. He urged financial institutions to continue to inform their customers about the existence of the Instant Pay service, so that people who need to make or receive funds instantly can resort to it.

He stated that GhIPSS would continue to introduce innovative ways of improving the payment system landscape, adding that the public should expect new initiatives soon.

Source: GNA

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