Business News Thu, 1 Jun 2017

Nationwide use of E-Zwich will improve financial inclusion – GhIPSS

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Vice President of Ghana Interbank Payment and Settlement Systems Limited, Archie Hesse has called on all banks across the country to introduce the use of E-Zwich platform. This he says will enhance the financial inclusion in the country.

Speaking at a business forum held by Citi FM in collaboration with GhIPSS in continuation of the latter’s 10th anniversary celebration, he urged bankers in the country to take the E-Zwich platform seriously since it’s an effective means of driving full convenience for customers.

“I will urge all the bankers here to take the E-Zwich platform very seriously. It’s one way of driving full convenience for your customers. The second advantage of the E-Zwich platform is the fact that it works offline. If you travel anywhere and there are telecommunication challenges you are still able to have access to your funds, because the funds reside on the card and in order to have access to the card you have to authenticate with your fingerprint. So when you come to a point of sale device, and you put your fingerprint on the point of sale machine, the machine will take a copy of your fingerprint and compare it to the card that you have inserted into the point of sale device. It doesn’t rely on any telecommunication line.” He stated.

Mr. Hesse also revealed that the E-Zwich card is the only card in the world that can be used in any back for monetary transactions.

He noted that this characteristic feature of the E-Zwich card is one of the key reasons the country chose it to drive financial inclusion.

The forum was well attended by several members of the business community including General Manager of MTN Mobile Financial Services, Eli Hini, CEO of expressPay, Curtis Vanderpuije as well as the Director of African Transformation Forum at African Centre for Economic Transformation (ACET), Buddy Buruku.

Source: www.ghanaweb,com