GhIPSS Instant Pay (GIP) is a real time interbank account-to-account credit transfer service. It allows funds to be sent across financial institutions electronically from one bank account to the other as a single immediate payment.
The service is provided by financial Institutions through channels like Mobile banking APP, USSD, Internet banking, in-branch, ATM and POS devices.
GIP can be used by both Businesses & Individuals for payments for goods & services.
Benefits of GhIPSS Instant Pay
- Provides Convenience
- Better cash management
- Service is available 24/7
- Provides an audit trail of transactions
- Recipient get value in real time