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28.01.2016 Business & Finance

GhIPSS and banks to drive POS patronage

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Accra, Jan. 28, GNA - The Ghana Interbank Payment and Settlement Systems (GhIPSS) will work closely with the banks to drive payment patronage on the gh-link hybrid Point of Sales (POS) machines.

Mr Archie Hesse, the Chief Executive of GhIPSS, said efforts would be made to encourage the public to use their domestic cards to make payments.

GhIPSS last year collaborated with the banks to increase awareness about express clearing of cheques and Automated Clearing House (ACH).

The campaign resulted in a 94 percent increase in the volume of express cheque transactions and over 100 percent increase in ACH Direct Debit transactions in 2015 compared to 2014.

Other GhIPSS initiatives also saw growth in patronage.

Following these successes chalked last year, Mr Hesse said GhIPSS planned to extend the drive to gh-link hybrid POSes.

He said it would take a lot of effort to get the critical mass of people to shop and pay with their cards, but was hopeful that together with the financial institutions, a lot could be achieved.

Mr Hesse said besides the deployment of more hybrid POSes, there would be several other activities to encourage patronage.

The GhIPSS Boss said financial institutions have increased their request for POSes which they give to their merchant customers.

He commended the banks for their role in promoting electronic payments and urged them to create more products and promotions around such payment options to support the cash-lite agenda.

Currently a number of major shopping outlets, restaurants, pharmacies and beauty parlours in Accra, Tema and other key outlets in the regional capitals also have the hybrid POSes.

Although POS transactions remain low, it however experienced a 52 percent growth in transaction in 2015.


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