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GhanaPay records GH¢2.5m in transactions

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The Ghana Pay platform has recorded a significant increase in subscribers, with transactions reaching GH¢2.5 million, up from GH¢40,000 in 2022.

Since its introduction, the platform has added various services, including bill payment, crowdfunding, and bulk payments for corporate organizations, among other services.

The service has expanded its offerings to include a sponsored wallet service, allowing users to share funds with friends and family, and standing instructions, enabling users to automate recurring payments such as subscription renewals, among other financial services.

In a side interview at the GhanaPay Value Added Services media briefing, the Head of GhanaPay, Samuel Darko, emphasised ongoing efforts to promote financial inclusion.

“When we launched the product in 2022 June, we had close to 40,000 at the close of the year. But as we speak today, we have close to 2.5 million Ghana cedis afloat…we are looking for a little close to one million subscribers on the platform as well compared to about 20,000 people when we launched it in 2022.”

Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems Limited, Archie Hesse, provided further insights on the GhanaPay wallet and measures being implemented to promote a cashless society.

“As a country, we’ve come a long way. Just barely 10 years ago, electronic payment was alien. 15 years ago, most banks did not even have an e-business department, today it is everywhere. So, the structures are being put in place. What we have to do now is we all work together so that we deepen education.”

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