Business News of Monday, 24 July 2017
Team leads from Tigo Cash have engaged with agents at a nationwide retailer convention to explain the Bank of Ghana regulations and agent guidelines, mobile money safety as well as new initiatives soon to be rolled out by Tigo Cash.
Grouped into regional events, the agents were also taken through business development training to help them increase and strengthen financial inclusion, especially in the informal sector.
The Head of Tigo Cash, Carl Pomeyie, said under the new Bank of Ghana regulation, withdrawal and payment processes had been tiered for customer due diligence requirements starting from minimum, medium and enhanced “Know Your Customer” (KYC) for various transaction limits.
He mentioned National identification, Voter identification, Driver’s License, National Health Insurance Scheme identification and Passports as the acceptable forms of identification under the new Payment Systems and Services Bill, 2017.
Carl Pomeyie, explained that retail agents play an important role in ensuring a safe and trustworthy ecosystem. He reiterated the need for agents to check identification of customers at all times. Agents were informed of the implications of their negligence on Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) and other types of fraud by individuals and groups.
He encouraged the Tigo Cash agents to support mobile operators to educate Ghanaians on the benefits of going cash-lite. “Educating Ghanaians on the numerous benefits of mobile money should be a collaborative effort. We need you and other stakeholders to help us mop up excess liquidity in the market,” he noted.
On mobile money fraud, he emphasized that it was important for customers to ensure the safety of the service by keeping confidential information such as their personal identification numbers (PIN) and other details.
High performing agents were rewarded based on key performance indicators including the value of transactions and commissions earned. They received counterfeit detectors among other prizes.
Charles Opare, stationed at Odorkor ‘Off Town’ in Accra, was adjudged the best agent, followed by I.K Bediako Enterprise and Emmanuel Akouffu, from Accra Central.
Forty-two customers were also recognized for their outstanding patronage of Tigo Cash services – going beyond elementary money transfers to payment of bills, goods and services and payroll dissemination.