Invest in e-payments ahead of festive season – GhIPSS to businesses

Business owners have been urged to make electronic payment services available at their shops and offices to offer customers the opportunity to make payments electronically, as the yuletide approaches.

Speaking in an interview, the Chief Executive of Ghana Interbank Payment and Settlement Systems (GhIPSS), Archie Hesse encouraged businesses to speak to their banks and FinTech companies to enable them to deploy various electronic payment services at their shops, restaurants and other outlets.

He mentioned Gh QR code, Point of Sales (PoS) devices, Mobile Money as some basic electronic payment channels that could be easily deployed.

He also cited GhIPSS Instant Pay, ACH Direct Credit, Direct Credit Near Real Time as other electronic payment channels that businesses could use for various fund transfers.

GhIPSS has been working with banks and FinTechs over the years to roll out several electronic payment solutions which should give both businesses and their customers a wide range of payment options.

Currently new PoS devices that are cheaper and can perform other third party transactions have been introduced, while Mobile Money Interoperability has made transfer of funds across different payment platforms, possible.

GhIPSS has also introduced the Gh Dual card, which enables banks to issue a card which serves as both gh-link and e-zwich card at the same time, giving customers the convenience of carrying one card with dual functionalities.

Mr Hesse explained that the several electronic payment services available, gives business owners no excuse to deny their customers the opportunity to pay electronically.

He added that the use of these various electronic payment services also inures to the benefit of business owners.

Major shopping outlets and fuel stations now offer electronic payment with GOIL and Shell accepting gh-link cards on their PoSs. Key utility service providers such as Ghana Water Company and Electricity Company of Ghana also offer electronic payment options to their customers.

Mr Hesse commended businesses and organisations that offer electronic payment and challenged those which do not, to talk to their banks and deploy them to enjoy the benefits during the festive season.