Coronavirus: Ghanaians would no longer pay charges on electronic payments - GhIPSS
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Coronavirus: Ghanaians would no longer pay charges on electronic payments - GhIPSS

- The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) has removed all charges on transactions on digital platforms

- The plan is to offer digital platforms as a better plan for transactions in the wake of the spread of the coronavirus

- The decision is also intended to give support to a recent directive by the Bank of Ghana

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In a bid to promote the use of digital payment options as the coronavirus continues to affect hundreds of thousands of people all over the world, Ghanaians would no longer be charged for such transactions.

According to the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), the aim is to limit the spread of the coronavirus through cash.

The waiver of the fees is set to be introduced from Monday, March 23, 2020, and would apply to any amount, citibusinessnews.com reports.

Coronavirus: Ghanaians would no longer pay charges on electronic payments - GhIPSS

Archie Hesse, CEO of GhIPSS Source: Marcopolis.net
Source: UGC

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GhIPSS explained that the move is also an attempt to give support to the measures against the coronavirus outlined by the Bank of Ghana.

It went on to say that all banks, fintechs and mobile operators that make use of its platform to offer services shall not incur any expenses.

In other news, the Bank of Ghana (BoG) has revealed that mobile money transactions that are valued at GHC100 and below would attract no charges.

The directive is expected to last for three months and is subject to review, the Central Bank indicated. The directive took effect from Friday, March 20, 2020, and is designed to help with the fight against the coronavirus epidemic.

It is hoped that the move would help facilitate payments and promote digital forms of payment.

A statement from the BoG indicated that the plan includes transactions on the same as well as different networks.

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Source: Yen

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