The world is gradually experiencing a shift on how it operates. With the increased use of technology and internet connectivity, most people now opt for immediate, fast and convenient ways of life. This revolution is mostly evident in modes of payments that is digital or electronic payments – the use of mobile phone, cards or internet to make payment for goods or services. Digital payments are becoming popular day by day in Ghana and most people are now familiar with online payments.
The Ghana Interbank Payment and Settlement Systems (GHIPSS), a subsidiary of the Bank of Ghana, launched a new system that allows cross-network mobile money transactions. The system is known as Mobile Money Interoperability (MMI). MMI has led to the development of ACH Direct Debit, GhIPSS Instant Pay and gh-link transactions. These digital payments are gradually becoming more popular and slowly complementing traditional methods of payment in Ghana. Most financial institutions are now creating microfinance products through the use of MMI. In addition, other businesses and organizations such as banks, are creating faster ways of payment through mobile money. To encourage more digital payments in Ghana, the GHIPSS has created campaigns on social media to introduce to the people in Ghana the many benefits of using digital payments.
Although some African countries have different regulations on gambling, Ghana has been very open to allowing its residents to play games of chance in many land-based and online casinos operating in Ghana. Banking methods available to Ghanaian citizens make it easy for them to deposit money for gambling and withdraw their winnings. Deposits to online casinos are instant while withdrawals take (at most) 48 hours. Ghanaian citizens can use credit and debit cards such as Visa and MasterCard or e-wallet services that include Ukash, Neteller or Skrill on online gambling sites. Most citizens find e-wallets more convenient, but ultimately, it’s a personal decision.
The government of Ghana is actively investing in digital payment methods. One of them (and currently the most popular one) is PayPal. PayPal is yet to become accessible to Ghanaian citizens, however its citizens will soon be able to receive payments for goods and services, as well as make payments online using this method.
Prof. Nii Narku Quaynor, chairman of GhanaDotCom (as well as being a scientist, software engineer, and often described as the “African Father of the Internet”), has stated that Ghana has a mature e-Commerce economy and the need for all stakeholders to intensify their engagement and collaboration is necessary, if the industry is to become a profitable and thriving resource for the country.
As you can see, Ghana is making major initiatives to increase transactions and improvements in digital payment culture. As Ghana continues to embrace digital payments, the country is slowly extending its trading boundaries internationally.

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