Friday
May 4
2018

Mobile Money Interoperability To Be Launched in Ghana On May 10th

It will be possible from next week to send mobile money from one mobile phone network to another seamlessly when the mobile money interoperability is launched on May 10.

The launch, to be performed by the Vice President, Dr Mahamudu Bawumia, will come as a major relief as sending money across networks has been a major challenge to many.

The mobile money interoperability is, however, only the first phase of a bigger project that will ensure that the public can also transfer funds from their bank accounts to mobile money networks as well as to e-zwich cards and vice versa in what is being termed the Financial Inclusion Triangle.

The move by the Ghana Interbank Payment and settlement Systems (GhIPSS), Telcos and banks, was in response to a challenge thrown by the Vice President Bawumia, last year, for a mobile money interoperability to become a reality in Ghana.

While the original plan was to ensure that mobile money transfers and transactions were possible across the various Telcos, what is being worked on goes far beyond that.

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Source: ModernGhana.com (link opens in a new window)

Categories
Finance
Tags
digital payments, fintech, mobile banking, mobile money, telecommunications