2016 cash withdrawals on E-zwich increases by 182%

Business News of Sunday, 29 January 2017

Source: citifmonline.ocm


Archie Hesse CEO Chief Executive Officer, GhIPSS, Archie Hesse

Management of the Ghana Interbank Payments and Settlement System (GhIPSS) has announced a 182 percent increase in withdrawal of cash on its E-zwich platform in 2016.

By this, cash withdrawals was among the activities on the platform that recorded high growth, increasing from GHS900,000 to GHS2.6 million in 2016.

Explaining the reasons behind the increase, the Chief Executive Officer of GhIPSS, Mr. Archie Hesse stated that government’s adoption of the platform for paying some public sector workers contributed to the results.

He pointed out that most of the customers of the product expressed satisfaction with the ease of withdrawing money on the platform.

“The growth can be attributed to increased usage of e-zwich cards for receipt of funds. You recall our collaboration with the LEAP programme to disburse funds to some underprivileged people as well as the payment of allowances for National Service personnel using the E-zwich,” he said.

Touching on other areas that saw significant improvement,

Mr. Hesse stated that the E-zwich saw a substantial growth in remittances on the platform.

“GhIPSS recorded over 7000 transactions from the e-zwich international remittance platform.

This platform allows e-zwich card holders to receive international remittance directly onto their e-zwich card or into their accounts, from any Unity Link Agent in Europe,” he said.

He assured that GhIPSS will expand its activities this year to grow the services of remittances to reach other ares.