16 January 2013

Ghana: ATM Cards to Be Used On Point-of-Sale Devices

In a few weeks, bank customers can use their ATM cards to shop anywhere in Ghana and make payment on point-of-sale devices with their cards.

This is the next big project the Ghana Interbank Payment and Settlement System (GHIPSS) is embarking on.

This is after ensuring that traditional ATM cards apart from the VISA cards can be used on ATMs of other banks.

According to GHIPSS, its new move is part of efforts to ensure people use less cash in transacting businesses in the country.

Speaking to Citi Business News, the Chief Executive Officer of GHIPSS, Achie Hesse noted that the point-of-sale devices being used in the country accept only e-zwich cards and therefore with the onset of the new project, the point-of-sale devices will accept traditional ATM cards.

He was expectant that "it will increase the usage of spending off your card as opposed to going to an ATM and then withdrawing cash before which is where we really want to get to."

Mr. Hesse also mentioned that his outfit is aiming at "driving Ghana into an electronic payment society and having an inter operable environment for ATMs will encourage individuals to put their money at the bank and then have access to it."

The project is however expected to be fully operational by the end of March this year.

Copyright © 2013 Ghanaian Chronicle. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.