Business News of 2014-08-16

Secure POSes for your merchants – GhIPSS

Chief Executive Officer (CEO) of Ghana Interbank Payment & Settlements Systems (GhIPSS), Archie Hesse, has urged banks to complement the ongoing rollout of hybrid Point of Sales (POS) terminals by procuring some POS for their clients who own shops.

He noted that it would enable the banks to deepen their relationship with their clients while contributing to the effort to reduce cash transactions.

Access Bank has taken the lead by devising a plan to support its clients to have POSes at their shops.

The bank held a breakfast meeting during which their clients were educated on the enormous benefits of the POSes.

The bank also rolled out a programme to deploy POSes for their clients so they can accept payments via ATM cards.

Speaking in an interview, Mr. Hesse commended the move by Access Bank and encouraged shop owners and other merchants to take advantage of the Access Bank POS offer and have the terminals installed at their outlets.

The hybrid POSes accept both local ATM cards as well as e-zwich cards. This means that any shopping outlets, restaurants, hotels or service provider who has the POS terminal stands a better chance of higher sales because their customers would not be limited to the cash on them but can shop off their cards so long as they have enough money in their bank account.

GhIPSS has so far rolled out about 200 POSes at different outlets, including shopping centres, pharmacies, restaurants, beauty parlours and hotels while more are being deployed.

Mr. Hesse said the role of banks in rolling out a lot more POSes was very important and therefore urged the banks to actively engage their clientele and support them with the POSes.

He indicated that the banks can develop various schemes under which these POSes could be made available to their clients.

He mentioned that it could be an outright sale to the clients or giving it out on credit.

Mr Hesse also said the POSes could be owned by the bank and but rented to the clients.

Mr. Hesse noted that GhIPSS will continue to work closely with banks to ensure that the market is saturated with POSes.

Electronic payment is fast gaining grounds in Africa with countries such as South Africa, Rwanda, Kenya and lately Nigeria leading the way.

Source: Daily Guide
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