Accra, Jan. 20, GNA – The total volume of inter-bank cheques cleared in 2020 declined by 13.59 percent to 5,903,331 from 6,831,417 in 2019, while value of transaction increased by 2.
30 per cent to GH¢177,625.00 million from GH¢173,623.25 million in 2019.
On direct credit, during the review period, the total volume of transactions cleared through the direct credit system increased by 9.83 percent from 7,404,059 to 8,131,989.
A Bank of Ghana Payment System Oversight Annual Report, 2020, said the total value of direct credit transfers also increased from GH¢36,137.96 million in 2019 to GH¢49,794.26 million in 2020.
It said payment of SSNIT pensions by Bank of Ghana on behalf of the Government continued to be the major contributor to the growth in the direct credit transactions.
The report said express automated clearing house direct credit recorded an increase of 6.60 per cent and 34.80 per cent in both volume and value of transfers over the 2019 positions of 1,153,551 and GH¢11,534.13 million.
On e-zwich transactions during the review period, the number of e-zwich card holders increased by 5.84 percent from 3,072,965 in 2019 to 3,252,493 in 2020.
The total volume of e-zwich transactions, however, declined by 2.95 per cent to 10,477,601, while the total value of transactions increased by 43.19 per cent to GH¢9,033.25 million.
It said the Government continued to use the e-zwich platform to pay caterers of national school feeding programme, beneficiaries of the Livelihood Empowerment Against Poverty, Youth Employment Agency, Nurses and Teacher Trainees allowances, Students Loans Trust Fund and personnel of the National Service Scheme as means of ensuring efficiency in payments and facilitating growth in adoption of e-zwich card.
In the area of internet and mobile banking, the number of registered internet banking customers declined by 7.88 percent from 1,106,270 in 2019 to 1,019,073 in 2020 while registered mobile banking customers increased by 12.30 percent from 4,245,479 in 2019 to 4,767,719 in 2020.
The value of internet banking transactions increased significantly by 101.50 percent to GH¢24.21 billion in 2020 compared with the 2019 position of GH¢12.01 billion.
Mobile banking transaction value was GH¢12.94 billion in 2020 compared with GH¢6.69 billion in 2019.