{"id":65021,"date":"2024-01-21T06:23:56","date_gmt":"2024-01-21T06:23:56","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=65021"},"modified":"2024-01-21T06:22:26","modified_gmt":"2024-01-21T06:22:26","slug":"ghipss-partners-visa-to-boost-domestic-payment-ecosystem","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem","title":{"rendered":"GhIPSS partners Visa to boost domestic payment ecosystem"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global electronic payment service Visa is set to boost the domestic payment ecosystem, especially among financial institutions.<\/b><\/p>\n

The historic partnership, which was officially announced at the GhIPSS headquarters in Accra and is scheduled to begin in May 2024, will take advantage of knowledge about the area and the global reach of both parties. It is expected to transform domestic payments through increased effectiveness, lower costs, and a more seamless dispute resolution procedure.<\/p>\n

According to the Chief Executive Officer of GhIPSS, Archie Hesse, \u201cThis partnership signifies a pivotal moment for Ghana’s payments ecosystem. By joining forces with VISA, we unlock a gateway for improved efficiency, lower transaction costs and seamless dispute settlement. Additionally, this collaboration opens doors for future collaborations, paving the way for further advancements in the Ghanaian financial landscape.\u201d<\/p>\n

In light of the development, a significant advantage is that this will ensure a reduction in the overdependence on foreign currencies since GhIPSS is locally owned, hence all transactions will be made in the Cedi as well as hassle-free currency exchange.<\/p>\n

While local payments are made in cedis, banks usually use foreign currencies to pay service providers. For financial institutions, however, the GhIPSS-VISA cooperation will further reduce costs and complexity by allowing everything to be denominated in cedis.<\/p>\n

This results in substantial cost savings for VISA agents, especially for banks, and eventually lower transaction fees for clients. Moreover, GhIPSS functions under a strict mandate for the public interest, guaranteeing that transaction fees remain affordable for clients and companies.<\/p>\n

Mr. Hesse stressed that his outfit is committed to ensuring that transaction costs remain low.<\/p>\n

\u201cAs part of this commitment, GhIPSS integrates a public good element into all our operations. If we identify excessively high transaction costs, the central bank has authority to mandate that GhIPSS reduce them to an appropriate level. Our cost per transaction remains one of the lowest among our peers, and despite recent economic fluctuations we’ve maintained this level for the past three years,\u201d the GhIPSS boss further stated.<\/p>\n

Let’s go electronic and reduce exposure to robbers \u2013 GhIPSS<\/p>\n

This occurs at a time when inefficiencies, particularly those involving numerous offshore counterparties, are still prevalent in payment and settlement transactions across the continent.<\/p>\n

Mr. Hesse also alluded to the potential for \u201cdual cards,\u201d which may link to both Visa’s infrastructure and nearby establishments that aren’t usually on its network. He claimed this will help increase financial inclusion together with a GhIPSS Academy.<\/p>\n

The Vice President and Head of West Africa Cluster at Visa, Andrew Uaboi, remarked that the development is a testament to Ghana’s importance as a market within the region.<\/p>\n

\u201cAt Visa, we believe in Ghana’s potential as one of our most important markets. Ghana’s rise as a regional leader in digital payments is no accident. Its vibrant economy, tech-savvy population and commitment to innovation make it fertile ground for growth, and Visa is proud to be a part of this journey. We are committed to working with our partners here to build a more inclusive and prosperous digital economy for all Ghanaians,\u201d he said.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global electronic payment service Visa is set to boost the domestic payment ecosystem, especially among financial institutions. The historic partnership, which was officially announced at the GhIPSS headquarters in Accra and is scheduled to begin in May 2024, […]<\/p>\n","protected":false},"author":84,"featured_media":65020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,5099],"tags":[5092,5096,429],"class_list":["post-65021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-to-homepage","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nGhIPSS partners Visa to boost domestic payment ecosystem - Ghana<\/title>\n<meta name=\"description\" content=\"A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global ele ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GhIPSS partners Visa to boost domestic payment ecosystem\" \/>\n<meta property=\"og:description\" content=\"A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global ele ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-21T06:23:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1003\" \/>\n\t<meta property=\"og:image:height\" content=\"605\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"GhIPSS partners Visa to boost domestic payment ecosystem\",\"datePublished\":\"2024-01-21T06:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\"},\"wordCount\":548,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\",\"name\":\"GhIPSS partners Visa to boost domestic payment ecosystem - Ghana\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg\",\"datePublished\":\"2024-01-21T06:23:56+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global ele ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg\",\"width\":1003,\"height\":605,\"caption\":\"GhIPSS partners Visa to boost domestic payment ecosystem\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/ghana\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GhIPSS partners Visa to boost domestic payment ecosystem\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/\",\"name\":\"Ghana\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"GhIPSS partners Visa to boost domestic payment ecosystem - Ghana","description":"A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global ele ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem","og_locale":"en_US","og_type":"article","og_title":"GhIPSS partners Visa to boost domestic payment ecosystem","og_description":"A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global ele ...","og_url":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem","og_site_name":"Ghana","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-01-21T06:23:56+00:00","og_image":[{"width":1003,"height":605,"url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"GhIPSS partners Visa to boost domestic payment ecosystem","datePublished":"2024-01-21T06:23:56+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem"},"wordCount":548,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg","keywords":["Africa Press","Africa Press-Ghana","ghana"],"articleSection":["all news","Economy","head lines","to-homepage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem","url":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem","name":"GhIPSS partners Visa to boost domestic payment ecosystem - Ghana","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg","datePublished":"2024-01-21T06:23:56+00:00","author":{"@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"A partnership agreement formalised between the Ghana Interbank Payment and Settlement Systems (GhIPSS) and global ele ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#primaryimage","url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg","contentUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1705805116.493177.jpg","width":1003,"height":605,"caption":"GhIPSS partners Visa to boost domestic payment ecosystem"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghipss-partners-visa-to-boost-domestic-payment-ecosystem#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/ghana\/"},{"@type":"ListItem","position":2,"name":"GhIPSS partners Visa to boost domestic payment ecosystem"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/ghana\/#website","url":"https:\/\/www.africa-press.net\/ghana\/","name":"Ghana","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/65021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/comments?post=65021"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/65021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media\/65020"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media?parent=65021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/categories?post=65021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/tags?post=65021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}