Leading payments technology platform, Verve International, has partnered with Ghana Interbank Payment and Settlement Systems (GhIPSS) to launch acceptance in Ghana.
This initiative by Verve International also signals acceptance across other African countries including, Kenya, Uganda, Tanzania, Nigeria, Gabon and Gambia, among others.
Head of payment systems at the Bank of Ghana (BoG), Dr Settor Amediku, said improving electronic payment in the subregion was very necessary and important because it made transactions as simply and cheaply as possible.
He was of the view that to enhance financial inclusion, there was the need for African leaders to support and promote the creation of strong payment institutions across the continent.
According to him, GhIPPS’s collaboration with Verve would go a long way to create an enabling an environment for retail payment to thrive between Ghana and Nigeria.
Dr Amediku, however, called for the implementation of a card bank policy that would not hold customers funds for longer periods to enhance the confidence of card bank holders, adding that high transaction and payment charges also discouraged card usage.
“An affordable transaction fee has the potential of scaling up adoption and usage. As the host country for the Africa Free Trade, we are very excited about this partnership and its potential. This is another milestone worth celebrating, as we strive to grow the network on every part of the continent,” he added.
He commended Verve and GhIPPS for the collaboration and urged them to keep enhancing intra-Africa cross-border payment, in furtherance with the Africa Free Trade agenda.
Mr Mike Ogbalu III, CEO of Verve International, stated that Verve and GhIPSS shared a similar vision to grow digital payments in Africa.
“We are excited about this occasion. It marks the beginning of great synergy between two organisations with similar aspirations to drive the growth of digital payments across Africa.
“Because we typically share the same payment and economic challenges in various African countries, it is also logical that the solution should be via African collaboration,” he said.
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Growing digital payments, intra-Africa trade and ultimately driving economic prosperity, he said, were the priorities of his outfit.
The CEO of GhIPSS, Mr Archie Hesse, explained that the partnership was a welcome development as it had the capacity to boost the Ghanaian digital payment system, highlighting that the development of the digital payment system in Africa was critical to Africa’s competitiveness in the world.
“We are positive this collaboration will open a new vista of opportunities for improved services and development of more home-grown solutions. The card portfolio within our banks will increase and Ghanaian cardholders will have more exciting world-class services and benefits to enjoy,” he said.
He also assured that the partnership would accelerate trade, cooperation, commerce, cultural exchange and also reduce poverty.