BoG monitors banks’ e-zwich compliance

Officials of the Bank of Ghana and its subsidiary, the Ghana Interbank Payment and Settlement Systems (GhIPSS), have embarked on a major monitoring exercise to assess the e-zwich offering at the various banks.

Despite its huge potential, banks have come up with various excuses to turn away customers who have walked into branches to request for e-zwich services.

The visit to the banks is therefore, to afford the team, firsthand information about the level of service delivery, in order to take appropriate action to improve on the situation.

The move is also to monitor the compliance of banks to BOG’s directive on offering of e-zwich services at all branches and to ensure that the service is available for customers to access at all times.

The monitoring took the officials to bank branches in Accra and the exercise will continue to other parts of the country.

The Head of Business Development, Mrs Mary Dei Sarpong, said in an interview that GhIPSS is working closely with some banks to convert their ATMs to become e-zwich compliant in order to increase the outlets to access e-zwich.

Mrs Dei Sarpong said the conversion of ATMs had already been completed for some banks while others were ongoing.

She said Point of Sale devices (POSes) had also been provided at the district offices of National Service which will be at the disposal of the personnel.

Besides, Mrs Dei Sarpong said many hybrid PoSes, which accepts both e-zwich and local cards, are being deployed in Accra and other regional capitals, adding GhIPSS would continue to work with the banks to ensure improved services.

She expressed the hope that this year would be a very good one for e-zwich and other payment cards in the country.

The e-zwich service has received a major boost following the payment of National Service allowance on the biometric card.

However, there are complaints about service quality by some banks even after the Bank of Ghana’s directive.

With the payment of National Service allowance, more people will need e-zwich services. Currently apart from individuals, beneficiaries of student loans and the Livelihood Empowerment against Poverty also actively use the biometric card.

A number of companies also pay wages and commissions through the card while it is anticipated that shortly public sector workers will begin to receive part of their remunerations on the card.

This will significantly increase the usage of the card and the Central Bank, together with GhIPSS, wants to make sure service delivery is optimum to forestall unnecessary hitches.

Officials of GhIPSS say the team visiting the banks will come out with a report which will guide the next line of action.