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Pooling resources for various campaigns has become significantly easier with the introduction of the GhanaPay Crowdfunding feature. This service provides a transparent way to pool resources/funds for projects with audit trails that ensure every pesewa raised can be accounted for.

The Crowdfunding feature on GhanaPay allows users to create or join groups aimed at pooling resources for a wide range of campaigns or projects, including personal, business, or charitable endeavours on the GhanaPay platform. Alumni associations, church groups, and other organizations can leverage this feature for fundraising and dues collections. GhanaPay customers can set up groups and launch campaigns by specifying project details, fundraising goals, approval policies, timelines, and then share the campaign link for contributions. There is no limit to the number of contributors per campaign.

Samuel Darko, Head of GhanaPay at Ghana Interbank Payment and Settlement Service (GhIPSS), explained that crowdfunding and various group fundraising activities have become common, but many people have shied away from these activities due to the lack of transparency in the fundraising process. The GhanaPay Crowdfunding service addresses this shortfall, he stressed.

“To participate, users must log into the GhanaPay app, navigate to 'Other Services,' choose 'Crowdfunding’, select a group or campaign, and follow the prompts to contribute,” Mr. Darko said. The service includes built-in systems to check abuses, with withdrawals requiring approval based on group administration policy. Members can also independently opt out of campaigns anytime by selecting the group in the app's Crowdfunding section and using the exit option.

Mr. Darko emphasised that GhanaPay is suitable for crowdfunding and will give contributors confidence to support campaigns run on the platform. GhanaPay is similar to regular mobile money services but is a shared service provided by universal banks, savings and loans institutions, and rural banks. These financial institutions leverage their expertise to offer services not available on other mobile money platforms, enabling GhanaPay customers to enjoy banking and mobile money services simultaneously.

Since its introduction, new features continue to be added to GhanaPay mobile money. These include Sponsored Wallet, Standing Instructions, Merchant Payments, Bill Payments, and a higher-yielding savings wallet in addition to regular mobile money services such as transfers and withdrawals. GhanaPay transactions do not attract charges except for the e-levy, which applies in some cases.

Ghana Interbank Payment and Settlement System (GhIPSS) has launched a special Mothers' Day promotion in collaboration with Melcom, China Mall, Stadium Gate and all partner financial institutions, offering exciting rewards for customers who shop and pay with a gh-link card at selected outlets across the country.

Running from May 10th to 12th, 2024, the three-day promotion aims to encourage the use of gh-link cards for payments at various outlets in Ghana, while also celebrating mothers on their special day.

Participating outlets include Melcom stores in Kaneshie, Spintex, East Legon Boundary Road (Accra), Adum in Kumasi (Ashanti Region), Takoradi (Western Region), Wa (Upper West Region), Tamale (Northern Region), Sunyani (Bono Region), and Ho (Volta Region). Additionally, shoppers at the new China Mall at Spintex (Accra) and Stadium Gate (Ho) will also have the opportunity to join in the Mothers' Day promotion.

The Head of Cards and Verified Payments Unit at GhIPSS, Mrs. Akosua Blay, encouraged the public to obtain gh-link cards from their respective banks if they do not already possess one. Highlighting the benefits, she emphasized that acquiring the card is instant and transactions made with it incur lower costs compared to other cards.

gh-link cards, also known as domestic cards, are issued by various banks in Ghana and are distinguishable by the gh-link logo. Unlike international scheme cards, domestic cards offer cheaper transaction charges and quicker resolution of disputes. Transactions with gh-link cards are confined within the country, making them more cost-effective for users.

Currently, gh-link cards are accepted at all Automated Teller Machines (ATMs) nationwide and numerous Point of Sale (POS) devices, providing convenient and accessible payment options for customers across Ghana

The Ghana Interbank Payment and Settlement Systems (GhIPSS) and its Chief Executive Officer (CEO), Mr. Archie Hesse, were recognized for their outstanding contributions to the payment systems industry at the 13th Edition of the Ghana Information Technology and Telecom Awards (GITTA).

Mr. Archie Hesse received the “Digital Payment Leader of the Year” Award While GhIPSS received the “Payment Infrastructure Leader Award." This is the 5th time Mr. Archie Hesse, has been awarded by GITTA for his contributions to the payment systems industry. Under his leadership, GhIPSS has transformed Ghana’s payment systems landscape with the introduction of interoperable Payment solutions. Notable innovations include Mobile Money Interoperability, Ghana’s Universal QR code-GhQR, GhanaPay Mobile Money, the automation of the clearing house system and the introduction of the ACH Direct Credit Near Real Time, among others.

GhIPSS has been at the forefront of driving financial inclusion and digital empowerment, fostering economic growth and development at both individual and national levels. GhIPSS's payment infrastructure is used by all banks in Ghana, including the ARB Apex Bank and its affiliates, savings and loans companies, and third-party payment service providers.

GhIPSS remains committed to pushing the boundaries of innovation, driving sustainable growth, and creating value for all stakeholders.

Mr. Hesse emphasized the continued importance of collaboration with stakeholders to solidify these gains. This prestigious award serves as a springboard for GhIPSS's next chapter of success.

GITTA is the most celebrated industry awards for the ICT and Telecom industry. Now in its 13th Year, GITTA is organized by Instinct Wave in partnership with the Ghana Chamber of Telecommunications.

Archie Hesse, CEO of Ghana Interbank Payment and Settlement Systems (GhIPSS), has received the prestigious Best Leadership in Payment Regulatory Anglophone award at the Arab-Afro Digital Payments Symposium, Exhibition & Awards in Morocco. The award recognises his exceptional leadership in navigating regulatory complexities, ensuring compliance, and fostering progress in the payment systems landscape.

This recent honour adds to Mr. Hesse's extensive collection of awards, underscoring his transformative leadership at GhIPSS, which has garnered global recognition. Under his guidance, GhIPSS has undergone a remarkable evolution, collaborating with banks and non-bank financial institutions to introduce a variety of electronic payment channels to the public. Notable innovations include Mobile Money Interoperability, GhQR, GhanaPay, and Direct Credit Near Real Time, among others.

Expressing gratitude for the recognition, Mr. Hesse emphasized his commitment to advancing the cause of payments not only in Ghana but also on a global scale. He credited the dedicated staff of GhIPSS and the supportive Board for their confidence and cooperation in delivering a modern payment system for Ghana. Mr. Hesse pledged to continue working with stakeholders to ensure widespread adoption of electronic payment channels, thereby fulfilling the mandate of transitioning Ghana into an electronic payment society.

The Arab-Afro Digital Payment summit aimed to stimulate economic advancement and innovation, particularly addressing issues of the digital divide and limited service access in remote regions, with a focus on the payments domain. Organised by BII World, the two-day event brought together strategic leaders from the Middle East and Africa's banking and financial services sector, to share insights and experiences on digital journey excellence, operational excellence in payments, financial services, and succeeding in payment innovations within the realms of PayTech and FinTech.