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Ghana's Payment Systems Advisory Committee to offer guidance on payment system

Monday 9 March 2020 12:45 CET | News

Ghana has gotten its first Payment Systems Advisory Committee to guide the Bank of Ghana on regulation and oversight, operational and technical stands of the payment systems. 

As per PeaceFMOnline, this initiative takes into account any matter affecting payment services clearing and settlement of payments. The Advisory Committee will harness the expertise of stakeholders through the establishment of working groups on the various thematic areas of the payment systems operations.

The Governor of Bank of Ghana (BoG) said the payment system infrastructure had witnessed rapid transformation over the last twenty years with the establishment of the Ghana Interbank Payment and Settlement Systems (GhIPSS) with a mandate to oversee all interbank payment and processing activities. Moreover, another achievement within Ghana’s payment ecosystem was the implementation of the mobile money interoperability system, which enabled seamless funds transfer across platforms of electronic money issuers, on one hand, and between mobile money ecosystem and bank accounts on the other. 

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Keywords: Ghana, Payment Systems, regulations, mobile payments, electronic money, banks, accounts
Categories: Payments & Commerce
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Countries: Ghana
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