July 23

Ghana Mobile Money Interoperability Transactions Rise 400 Percent in Six Months

The volume of Mobile Money Interoperability (MMI) transactions jumped over 444 percent in the first half of this year compared to the same period last year.

According to the Ghana Interbank Payment and Settlement Systems (GhIPSS) Half Year Performance report, MMI transactions from January to June stood at 13.8 million compared to 2.5 million recorded in the same period last year.

The huge jump in the MMI volume could be attributed to increased awareness that funds can now be transferred across wallets of different telecommunications networks.

This follows series of campaigns that GhIPSS together with its partner institutions have been running.

Photo courtesy of John O’Bryan.

Source: GhanaWeb (link opens in a new window)

digital payments, fintech, telecommunications