Godwill Arthur-Mensah,GNA
Accra, March 25, GNA
– The Bank of Ghana (BoG) has encouraged stakeholders in the financial sector
to intensify public education and sensitisation on the new electronic payment
system including the use of Universal QR Code Payment Service and Proxy Pay for
efficient and convenient payment.
Speaking at the
launch of the Universal QR Code and the Proxy Pay in Accra on Wednesday, Dr
Ernest Addison, the Governor of the Central Bank, said the QR Code and the
Proxy Pay had the potential to become the game changer by supporting merchants
and non-bank entities to accept payments from customers of different financial
institutions.
The new payment
solution, he said, would also speed up digitisation of payments to
distributors, wholesalers, and suppliers as well as encourage users and
merchants to accept and use electronic payment platforms.
“This will
further provide a boost to the financial inclusiveness through the digitisation agenda,”Dr
Addison noted.
The Governor of the
Central Bank said for the public to have confidence in the electronic payments,
it was imperative to create the needed awareness of such electronic payment platforms,
in order to enhance public confidence and acceptability.
Dr Addison urged
financial sector players to improve the cyber security features of those
payment platforms by using latest technology such as machine learning and
artificial intelligence.
Beyond that, he
said, it was prudent to offer dedicated platforms for resolving customer
complaints timeously, and also provide assurance to boost customers’ confidence
in the electronic payment products.
The Governor urged
banks to continue working with the existing financial service providers and
integrate new ones to develop new products that suited into the changing trend
of the business climate.
“Let me state
that the high penetration of electronic wallets and mobile phones has
positioned Ghana to leverage on the Universal QR Code and Proxy Pay to advance
our quest for a cash-lite economy, as we improve financial inclusion
agenda,” the Governor of BoG said.
Dr Addison
acknowledged the contributions of the Ghana Inter-bank Payment and Settlement
System and other stakeholders for working diligently towards the launch of the
Universal QR Code Payment Service and Proxy Pay in the country.
GNA