The Ghana Interbank Fee and Settlement Techniques Ltd (GhIPSS) has partnered with banks, fintechs and cellular cash operators throughout the nation to waive off charges on digital funds companies utilized by its accomplice monetary service suppliers.
The transfer is pursuant to the measures outlined by the Central financial institution of Ghana, as a part of efforts to comprise the affect of COVID-19 pandemic on the Ghanaian economic system and in addition to advertise using digital fee companies.
“This waiver is whatever the quantity and worth of transactions, till additional discover,” GhIPSS stated in a press release issued on Sunday.
Beginning Monday, March 23, 2020, all banks, fintech and cellular cash operators, leveraging the next platforms to supply digital fee companies to most of the people shall not incur any service expenses:
a. Cellular Cash Interoperability (MMI): All cross pockets transactions on the cellular cash interoperability platform shall not entice any charge from GhIPSS.
b. GhIPSS Immediate Pay (GIP): Banks & Fintechs providing Immediate Pay companies to their respective prospects shall additionally not pay any service cost to GhIPSS
c. ACH – Direct Credit score: Banks leveraging the ACH Direct Credit score platform for bulk funds akin to salaries; on behalf of their company Establishments shall additionally not incur any service cost from GhIPSS
“GhIPSS is optimistic the charge waiver will contribute to efforts by its companions to advertise and encourage using digital fee choices to restrict the doable unfold of the COVID-19 Virus via bodily money,” GhIPSS stated within the assertion.
Learn the total assertion under.