The value of transactions done on the mobile money interoperability platform for the half year of 2019, witnessed some significant increase. It reached GH¢217 million according to data from the Ghana Interbank Payment and Settlements Systems.
This represents about 756% increase from what was recorded in 2018. In terms of volumes, more than 2.5 million transactions were completed for the first half of this year.
Mobile number interoperability
Introduced in May last year, Mobile Money Interoperability (MMI) allows subscribers to undertake mobile money transactions across the various network at a small fee.
The MMI platform recorded more than 4.4 million transactions in its first year of operation. Beginning with just 96,907 transactions in its first month, public usage of the cross-network platform grew phenomenally to 422,275 transactions in December last year and 502,873 transactions in May this year.
Ghana Interbank Payment and Settlement System on revised targets
Chief Executive of the Ghana Interbank Payment and Settlements System, Archie Hesse, said the numbers is an indication of the value the service has created for customers. He added that GhIPSS is committed to finding ways to encourage more subscribers to use the platform.