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Registration for the GhanaPay mobile money service is in full swing across four regions this October. This is a collaboration between Ghana Interbank Payment and Settlement System (GhIPSS) and a number of banks. The campaign spans various communities in the Greater Accra, Eastern, Western, and Western North regions, taking place at different times throughout the month.

The exercise is part of the 'GhanaPay Mobile Money Experience Fair' which is intended to create awareness about GhanaPay and to enroll more people onto the payment platform to enable them to enjoy the numerous benefits associated with its usage. Furthermore, this drive also presents an opportunity for individuals and businesses interested in becoming GhanaPay agents to register for the service.

GhanaPay mobile money, similar to traditional mobile money services, is offered by universal banks, rural banks, and savings and loans companies. It provides fundamental mobile money features along with additional banking services tailored to augment users' financial flexibility. Accessible via USSD code (707) or the GhanaPay App, which can be found on the Google Play Store and iOS App Store, this service enables users to seamlessly transfer funds across various mobile money networks and bank accounts. Additionally, customers can conduct cash-in and cash-out transactions with ease. Notably, fund transfers through GhanaPay are free, apart from the statutory Electronic Levy (e-levy) charge.

Samuel Darko, the Head of the GhanaPay Mobile Money Unit at GhIPSS, encouraged the public to seize this opportunity to enroll and experience the convenience of mobile money services. He emphasised that, since GhanaPay is provided by financial institutions, users can leverage their transaction history when applying for loans. He stated, "The benefits of GhanaPay are substantial. It operates seamlessly across networks and is akin to having a bank account because the bank that onboards you recognises and treats you as their customer."

The GhanaPay Mobile Money Experience Fair is set to take place at Ashesi University in Berekusu, Eastern Region, and at Tip-Toe Lane near Kwame Nkrumah Interchange in Accra. Additionally, the campaign extends its reach to Bibiani, Sefwi Wiaso, and Asankragua in the Western North region, as well as Asamankese in the Eastern Region. The GhanaPay registration drive is also scheduled to be held in the mining town of Tarkwa in the Western Region, all within the month of October.
Mr. Darko clarifies that while individuals have the option to download the GhanaPay application and use it, the Fair aims to assist those who may not be technologically proficient, ensuring that they are not excluded from the benefits offered by GhanaPay.

He said the GhanaPay Fair will continue in the month of November, covering areas notably communities in Accra, Koforidua, Sunyani and Techiman in the Greater Accra, Eastern, Bono and Bono East regions respectively.

Parents and individuals looking to provide financial support in a controlled manner can now benefit from the new GhanaPay mobile money feature called the Sponsored Wallet Service.

With the Sponsored Wallet, GhanaPay mobile money users can allocate a specific amount of money from their GhanaPay wallet to a chosen beneficiary. This allows the beneficiary to spend the allocated funds directly on his or her phone without the need for a transfer. The sponsor determines the amount and spending duration, with options to set daily or monthly limits on expenditures. Sponsors can also beneficiaries from their list at any time. Importantly, there are no transfer charges for using this service. Transaction details are accessible through SMS alerts and wallet statements, allowing sponsors to monitor spending.

For a beneficiary to access the Sponsored Wallet, they must also have a GhanaPay wallet. This feature enhances the utility of GhanaPay mobile money, making it particularly useful for parents who wish to remit funds to their wards while preventing misuse of the money.

Samuel Darko, Head of GhanaPay at Ghana Interbank Payment and Settlement Systems Ltd (GhIPSS), explained that the Sponsored Wallet service offers significant flexibility to GhanaPay users, allowing them to remit specific individuals without incurring transfer charges. "The beauty is that, as the sponsor, you can delete or replace the beneficiary at any time. You can also reduce or increase the daily or monthly spend amount, and more importantly, you receive SMS alerts any time the beneficiary undertakes a transaction," he said.

Mr. Darko encouraged the public to sign up for the Sponsored Wallet service to save on costs and time associated with regular remittances.
GhanaPay, a mobile money service provided by universal banks, rural banks, and savings and loans companies, combines mobile money features with banking services. The service can be accessed via USSD code *707# or through the GhanaPay App, available on both Google Play Store and iOS App Store, bringing banking convenience to mobile devices.

GhanaPay has other services such as Standing Instructions, Crowdfunding, Payments to merchants and bill payments, all accessible on mobile phones.

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