Brong-Ahafo Regional Secretary of the New Patriotic Party (NPP), Kofi Ofosu Boateng, has said the tremendous work done by Vice President Dr. Mahamudu Bawumia and President Akufo-Addo has bore fruits barely five months into the introduction of the mobile money interoperability service in the country. He said the commitment of government was to supporting start-ups through policies and programmes which designed to make certain the success of the mobile money interoperability system and it has given go up to the success of the project.
He then revealed the latest data which shows the latest data from the Ghana Interbank Payment and Settlement System (GhIPSS), which indicates that over 1.1 million transactions were recorded at the end of September with the total value of cross-network transactions amounted to about GH¢ 99.3 million. According to Ghana Interbank Payment and Settlement System (GhlPSS), only 96,000 transactions took place in its first month of operations but that figure has increased gradually over the period to over 312,000 transactions in the month of September only.
Archie Hesse, the Chief Executive of Ghana Interbank Payment and Settlement System (GhIPSS), said the nonstop growth in the volume of transactions is clearly shown that the mobile money interoperability has come to fulfill a need. The vice president issued a challenged to the Bank of Ghana, Ghana Interbank Payment and Settlement Systems (GhIPSS), telcos and financial institutions last year, to make sure that mobile money platforms are interoperable to make banking services additional accessible to the large unbanked population, estimated to be about 70 per cent.
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