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16 April 2018 | Business & Finance

e-Zwich PDS Should Be Used To Pay Salaries

Daily Guide
Archie Hesse
Archie Hesse

The Ghana Interbank Payment and Settlement System (GhIPSS) has called on companies to use the e-Zwich Payment Distribution System (PDS) to pay salaries.

This is because virtually all companies and organisations, which have used the e-Zwich to pay remunerations, have made some savings to help eliminate ghost names.

Some companies have saved millions of Ghana cedis through the use of e-Zwich.

Currently, some 33 organisations and companies use the e-zwich, properly termed the e-zwich Payment Distribution System (PDS), to pay salaries and commissions.

The PDS is not complicated and does not cost much to set up, and has proven to be one of the most effective ways to pay employees, especially those who are working from different locations in the country.

The multiple bio-search technology attached to the PDS enables firms to tackle duplications.

It also ensures that the payment is accessed by the right person using the e-zwich biometric card.

Head of Verified Payments at GhIPSS, Mary Dei Sarpong, explained that the PDS has proven to be very effective in managing payrolls.

She explained that apart from the dispatch with which payments get to intended recipients, regardless of their location in Ghana, the system has also helped organisations to address payroll fraud.

She said a number of companies or organisations that previously transported cash in order to pay wages and salaries in remote areas now use e-Zwich to avert the risky and cumbersome process associated with cash payments.

Mrs Dei Sarpong urged organisations to approach GhIPSS to be assisted to set up and use e-zwich to pay salaries and commissions to their workers.

“There are over 2.4 million e-Zwich cardholders with at least 1.3 million of these cards with values at each point in time. Government agencies have been major users of the e-zwich PDS, but there are 23 private companies using the system.

“Funds on e-Zwich cards can be accessed from any bank branch and e-zwich agent outlets. There are also hybrid Automated Teller Machines (ATMs) on which e-zwich cards can be used, as well as hybrid Point of Sales (POS) devices. These various outlets have made it easy for e-Zwich cardholders to access funds on the card. It is also now possible for foreign remittances to be paid directly onto e-zwich card which has also increased its utility.”

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