Online payment internet gateway to be launched

Ghana would soon host an online internet gateway, reveals the Chief Executive Officer (CEO) of Ghana Interbank Payment and Settlement Systems (GhIPSS), Mr Archie Hess.

This would make it possible for consumers to use their normal ATM cards to make payments online.

He said with the launch, payment for goods and services purchased locally via the internet would become fashionable.

The payments for goods advertised online have been a major stumbling block for the e-commerce industry in Ghana.

According to Mr Hesse, discussions are also far advanced for government agencies to begin to accept online payment for services they offer to the public.

Various initiatives by institutions and businesses as well as payments for infrastructure being developed suggests strongly that a critical mass of the population would begin to use the internet to sell and buy goods and services, he added.

Besides the gh-link national electronic payment platform, various complimentary payment systems as well as products are being developed by banks and third party processors. Other marketing sites such as tonaton.com, myjoy market, AsedaMarket.com have sprung up.

Additionally several companies are advertising through their websites while the social media is flourishing with advertisement of products. There are also projects to market various creative works such as television productions, Ghanaian music and handicrafts online.

These individual initiatives, Mr Hesse said, would culminate in a high traffic for online shopping eventually. He therefore urged businesses to begin positioning themselves in order to remain active even in the cyber space.

“I am not for once saying that people will not go to the shops and markets, definitely not, but there is going to be a significant number of people who will want to buy from their computers and mobile phones,” Mr Hesse forecasted.

He said government agencies gearing up to begin accepting online payment for their services, Mr Hesse also anticipates that branchless banking will find space in the financial system of Ghana in a more effective way.

He said as part of the GhIPSS strategy, more hybrid Point of Sales devices would be deployed in excess of more than 5,000 in the short term.

Other financial institutions can also access a loan on concession terms from the German Development Bank, KFW to procure POSes for their customers to deploy in their shops, the GhIPSS CEO explained.

The POS devices will accept all ATM and e-zwich cards while discussions are ongoing to enable it accept both Visa and Master cards, Mr Hesse added.

There have been several discussions this year on the move to migrate Ghana from its heavy dependence on cash to a cash-lite society.

Mr Hesse said the various initiatives being undertaking by individual institutions as well as GhIPSS is fast preparing Ghana for a cash-lite financial system.

He asked businesses to continue monitor the payment trend and alter their business model accordingly.