{"id":733451,"date":"2019-10-29T13:29:16","date_gmt":"2019-10-29T13:29:16","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/10\/29\/ghana-accepts-verve-payment\/"},"modified":"2019-10-29T13:29:16","modified_gmt":"2019-10-29T13:29:16","slug":"ghana-accepts-verve-payment","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/10\/29\/ghana-accepts-verve-payment\/","title":{"rendered":"Ghana Accepts Verve Payment –"},"content":{"rendered":"

<\/p>\n

\n

Officials of the central banks of Nigeria and Ghana as wel l as that of Verve Int ernational and GhiPSS at the signing ceremony<\/strong><\/p>\n

The Ghana
\nInterbank Payment and Settlement Systems (GhIPSS) has partnered Verve
\nInternational, a Nigerian-based subsidiary of Interswitch Group, to allow Verve
\ncard holders to transact business in the country.\u00a0<\/p>\n

Ghana is the
\nlatest to join 22 other African countries that have accepted the payment
\ntechnology which is originally issued in 12 countries on the continent.\u00a0<\/p>\n

The
\nagreement, which was finalised last Friday in Accra, was witnessed by representatives
\nfrom the central banks of Ghana and Nigeria.<\/p>\n

The Director
\nand Head of Payment Systems at Bank of Ghana, Dr. Amediku Settor, who launched
\nthe partnership, said such agreements were apt in creating enabling business
\nenvironment especially at a time when the continent sought to implement the
\nAfrica Continental Free Trade Area (AfCFTA).<\/p>\n

\u201cRegional
\ncard acceptance will foster effective and efficient mobilisation of resources.
\nDespite the remarkable improvement in domestic payment infrastructure on the
\ncontinent, the continent lacked efficient cross-border payment systems to
\nsupport intra trade,\u201d he said.<\/p>\n

The
\nintegration of payment platforms on the continent, he said, would remedy the
\nsituation where digital payment transactions had to go through security routes
\noutside Africa which in effect increased the cost of fund transfers and made it
\nappealing for informal funds transfer.<\/p>\n

Dr. Settor,
\nhowever, appealed to Verve International to consider introducing competitive
\ntransactional charges that would scale up adoption and usage while initiating a
\ncharge back policy that did not hold customers funds for longer periods.\u00a0<\/p>\n

The Chief
\nExecutive Officer (CEO) of GhIPSS, Archie Hessie, disclosed that the partnership
\nwas as a result of a piloting that sought to link switches of domestic payment
\nschemes in West African countries, hence allowing for the sharing of payment
\ninfrastructure across the region.<\/p>\n

\u201cAs we speak
\nnow, the switches are linked together but they are not live because we hit a
\nbrick wall as to how to handle the settlement between local currencies as well
\nas settlements between countries,\u201d he said.<\/p>\n

He was,
\nhowever, hopeful that further engagements would allow Ghana\u2019s payment
\ntechnology, GHlink card, to be accepted in Nigeria.<\/p>\n

The CEO of Verve, Mike Ogbalu III, also said that the vision of such partnerships should be to collaborate rather than compete for the establishment of strong payment institutions which would lead the charge in promoting economic growth of the African continent.\u00a0<\/p>\n

By Issah Mohammed <\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Officials of the central banks of Nigeria and Ghana as wel l as that of Verve Int ernational and GhiPSS at the signing ceremony The Ghana Interbank Payment and Settlement Systems (GhIPSS) has partnered Verve International, a Nigerian-based subsidiary of Interswitch Group, to allow Verve card holders to transact business in the country.\u00a0 Ghana is […]<\/p>\n","protected":false},"author":1,"featured_media":733452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-733451","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nGhana Accepts Verve Payment - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/10\/29\/ghana-accepts-verve-payment\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ghana Accepts Verve Payment - 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