The Chief Executive of Ghana Interbank Payment and Settlement System (GhIPSS) Mr. Archie Hesse has urged businesses to prepare their websites in readiness to receive payments online. He anticipates that online payment could lead to a boom in business especially for those who rightly position themselves.
Speaking in an interview, Mr. Hesse said efforts are underway for the Internet Payment Gateway to go live, adding that this will become a reality soon. He said GhIPSS has noted the increasing interest in online advertising and the growth in enterprises selling various products and services through social media sites. He applauded the initiative and said GhIPSS was going to provide a robust payment system so that such businesses will not only advertise online but can also receive payment.
GhIPSS was set up by the Central Bank to migrate Ghana into an electronic payment community and has since its establishment introduced alternative payment systems to reduce overreliance on cash. Some of these are Direct Credit and Debit under the Automated Clearing Housing, e-zwich biometric smart card, electronic clearing of cheques and gh-link hybrid Point of Sales. These various electronic payment systems have been recording growth year on year implying that the use of cash as a form of payment may not be as high was it used to be.
The online payment gateway which is the next electronic payment to be launched will enable the public to use their ATM cards to pay for items online according to Mr. Hesse. He explained that businesses which want to sell and receive payment online must however have functional websites and must be set up to receive payments. He therefore urged business to contact their banks or GhIPSS to assist them in the process. He said GhIPSS has lined up a number of educational activities to inform the public about the online payment gateway.
The GhIPSS Boss, said much as a massive educational campaign will take place, businesses who proactively get themselves in readiness to accept online payment before their competitors, will derive a lot of benefits. He anticipates that a lot of new businesses will emerge as soon as the online payment picks up and urged entrepreneurs to strategise well and take advantage of the opportunities that will emerge.
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By: Fred Avornyoh