Mobile Money Surpasses Checks as Leading Method for Non-cash Payments in Ghana

Wednesday, August 29, 2018

Data released by the Bank of Ghana last week reveals that mobile money is now the leading platform for payments in Ghana outside of cash itself.

During the first half of 2018, not only were more payment transactions executed through mobile money than through any other type of non-cash payments platform, but mobile money became the biggest form of payments platform in terms of value of transactions too, replacing the erstwhile leading channel, cheques in this regard.

Between January and June this year,655,002,089 transactions were done through mobile money, valued at a total of GHc104,602.36 million, which was higher than the GHc99,374.53 million worth of transactions done by cheque for the first six month reporting period ever.

Source: Ghana Web (link opens in a new window)

Finance, Technology
digital payments, financial inclusion, mobile finance