THE ELECTRONIC PAYMENT SYSTEMS IN GHANA
Bank of Ghana's subsidiary Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) was set up with the following
mandates:
But then my humble question is, Ghana Interbank Payments and Settlement Systems Limited (Ghipss)are they really on top of their mandate? To answer that myself i believe they are partly able to do something.The next issue is do we want them to do something or we want them to do all that we have mandated them to do?
I believe in going forward we will realise that we wanted them to do all what we mandated them to do. Picking on their core mandates from the list of roles they are to perform,the first being operating a National Switch with smartcards payment systems,much have not been achieved in this area as the pertinent question of where can i get a reliable E-zwich services to perform is still a difficult riddle to crack.
To enumerate why this mandate since 2007 has not been achieved i will be looking out to a number of compounding factors and their multifaceted nature in this article and the subsequent ones i will be posting.
- To set up and operate the National Switch with smartcard payment System and the provision of smartcard service
- To manage the Cheque Truncation system
- To operate an Automated Clearing House (GACH) for direct debit and direct credit
- To operate a help desk to assist the payment system in general
But then my humble question is, Ghana Interbank Payments and Settlement Systems Limited (Ghipss)are they really on top of their mandate? To answer that myself i believe they are partly able to do something.The next issue is do we want them to do something or we want them to do all that we have mandated them to do?
I believe in going forward we will realise that we wanted them to do all what we mandated them to do. Picking on their core mandates from the list of roles they are to perform,the first being operating a National Switch with smartcards payment systems,much have not been achieved in this area as the pertinent question of where can i get a reliable E-zwich services to perform is still a difficult riddle to crack.
To enumerate why this mandate since 2007 has not been achieved i will be looking out to a number of compounding factors and their multifaceted nature in this article and the subsequent ones i will be posting.
WHY THE SMARTCARD PAYMENT SYSTEM HAS PERFORMED POORLY
Following my personal experiences with the use of the e-zwich card and comments from friends who have at a particular point in time had to use the card for one transaction or the other and my personal chat with some key personalities in the banking industries,be it a commercial bank or rural bank and some savings and loans,i can confidently point to these factors as some if not all of the reasons for the underperformance of the E-zwich product.- The Marketing Approach used By GhIPSS
- Operational Issues of Banks
- Education of the General Public
- Fee charges
