The Ghana Interbank Payments and Settlement Systems (GhIPSS) has said that by March this year, Mobile money transactions will be interoperable.
According to them, their platform would ensure that cross-network mobile money transactions would be ready by end of February and could be launched in March.
Although GhIPSS couldn’t attain its goal of ensuring that mobile money users could send and receive money from one network to the other, last year November as it had targetted.
Speaking to the media, CEO of GhIPSS, Archie Hesse said if all things sail through as planned by their organization, they will seek government’s approval to ensure that it is launched latest by March.
“I can give you the assurance that no matter what happens, within quarter one of 2018 we will have mobile money interoperability in Ghana,” he said.
He mentioned that, the interoperability project would allow all the mobile money networks to be interoperable.
According to him, mobile money users can move funds from their bank account to their mobile money wallet and vice versa and then across the e-zwich system as well.
Currently, there is interoperability between the e-zwich system and the banks.
But according to him, the phase one of the project will be the mobile network and the banks and phase two will be linking the e-zwich system to it.
The mobile money interoperability platform aims at allowing mobile money users to transfer money across all mobile networks with ease.
The project is said to be part of government’s plan to drive financial inclusion and reduce the number of unbanked population in Ghana.
Mr Hesse indicated that the country’s quest to achieve a cashless society is still on course given that products, services, infrastructure remain available.
“We are on the right track; we need a catalyst to speed up the reaction,” he said.