GhanaCard apt for security in financial sector – BoG

The issuance of the biometric national identification by the National Identification Authority (NIA) will enhance the safety and security of the payment system in the financial sector of the Ghanaian economy, a report titled “Payment Systems Oversight Annual Report, 2018” compiled by the Payment Systems Department Bank of Ghana, has said.

The NIA is currently registering Ghanaians across the country for the biometric identification card.

The report said: “Prospects for digital payments adoption was enhanced (in 2018) with the implementation of the National Identification System."

“Issuance of biometric national identification cards to the public progressed steadily in 2018 and is expected to mitigate risks of identity fraud."

“This will enhance the safety and security of payment systems. The registration process is expected to be completed in 2020.”

It added: “The Bank promoted the Payment Systems and Services Bill to enhance safe and secure digital payments. The Bill was submitted to Parliament for consideration and, at end-December 2018, was at the second consideration stage."

“Digital payment, during the review year, was also supported with the drafting of the Guideline for Electronic Payment Channels."

“The Guideline aims at assisting payment service providers in the deployment and management of electronic payment channels in a manner that engenders customer trust in digital payments.”