The Vice President of the Republic, Dr Mahamudu Bawumia, has launched what has been described as the world’s first dual purpose EMV and financial inclusion payment card in Accra.
Known as the Gh Dual Card, the new product, being rolled out by the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), is a two-in-one payment card that has both the e-zwich and gh-link applications. It can therefore be used either as e-zwich, gh-link or both as desired on payment platforms.
According to officials of GhIPPS, the card has been designed to give cardholders access to both funds on their e-zwich cards and in their bank accounts at the same time, and seeks to eliminate the inconvenience that comes with carrying multiple Cards.
The card can be used by cardholders for any point of sale purchase across merchant locations; ATM cash withdrawals; ATM PIN change; and Balance Enquiry. Thus, any customer who has an e-zwich card and also owns a bank account can opt for a Gh Dual Card instead of two separate cards.
Speaking at the launch ceremony on Wednesday, 7th August, 2019, Vice President Bawumia celebrated the strides Ghana continues to make in the quest for greater financial inclusion, in order to ensure holistic national development.
“We have in the past two years seen a convergence towards electronic based services as a country and it is a deliberate policy by His Excellency President Nana Addo Dankwa Akufo-Addo, to use technology to drive efficiency as we grow the economy and move Ghana beyond aid. Many a time we tend to look at what other countries are doing without recognizing the great strides we are making.
“Today, thanks to the hard work of GhIPSS and partner institutions such as the banks, Telcos and Fintechs, financial inclusion and intermediation has improved significantly. Ghanaians can now move funds seamlessly across the various payment platforms: mobile wallets, e-zwich wallets and bank accounts.
“This dual card is part of the payment system architecture that we are putting in place. What we are launching today, which is the dual e-zwich card and gh-link card, is a world first; its not happened anywhere in the world. It is the first time that any country in the world is issuing this combined EMV card and a financial inclusion card. It is remarkable, and will further promote financial inclusion in Ghana.
“In the payment systems space, and I’m not shy about saying this, it is clear that Ghana is now the undisputed leader in Africa.”
Vice President Bawumia continued,
“There is no doubt that Ghana's Interoperable platforms have improved significantly our National Financial Inclusion drive. It has served well the financially excluded and underserved. Now, practically, everyone has access to basic banking services. Many people have been roped into the formal banking environment by virtue of the convenience created by the interoperability and people are accessing credit as well as investing through their mobile phones.
“With where we have gotten to as a country and the passage of the Payment Systems and Services Act, which the President has assented to, the sky is no longer the limit.”
Source: Peacefmonline.com
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Information Technology minister.....A laf enter 1d1f office.
There are challenges, though, yet you can appreciate that Ghana is working again. In the contemporary world of technic the stress is on digitalization. And Ghana is determined to exploite it to the maximum benefit as much as being bold enough to set the pace. Kudos to the NPP-Administration.
OH AK! NDC MAN RIGHT? NO WONDER-ENEMIES OF PROGRESS
Good as it may be, we should ask why one should have that card if I already have a card issued by my bank which can be used for payment. e.g VISA. Such payment card should be linked to VISA to make it acceptable to many. It should be linked to bank accounts
I was not expecting this Government to really initial most of the policies they talked about and I must say they have done it all with my best of all been digitisation of our economy. It has really reduce the level of corruption, delays, excuses amongst other at various sectors of the economy. Great job and lets put Ghana first all the time. My biggest bet is on the railway sector and how when done, it will transform this country, I can't wait. With such commitment and clear vision from the President and Vice President, I'm always encourage to give my all for Ghana regardless the difficulties I may encounter. God bless Ghana.
Worst Vice President EVER. Osafo Marfo has relieve you from your shambolic economy work. You have now shift focus to issues that has nothing to do with bread and butter.
GHANA, OUR BELOVED COUNTRY IS WORKING AGAIN. THANKS YOU NANA ADDO, THANK YOU DR BAWUMIA, THANK YOU ABLE NPP GOVT. VISION IN FULL VIM!!!GHANA IS NOW AMERICA & EUROPE COMBINED! NO WO SE S3N?!!!
Aburokyire aba Ghana,papa no no !hehehehehe Ghanafuo mo mp3 wei na de3n ? aaah we need people who sleep and dream and get visions not drunkards who can't even remember their dreams ! God Bless Ghana, America of Africa! where are they? the nkurasefuo who talk anyhow let them come here and fall over themselves ! we are moving forward. If Ghana doesn't bring down ndc, ndc will bring down Ghana and we will never allow them! Forward ever, Backwards never in the course of freedom #progress and prosperity of Ghana and Africa# We Shall Overcome!