Ghana Interbank Payment and Settlement Systems (GhIPSS) has introduced two new payment services called gh-link e-Commerce and GhIPSS Instant Pay.

The gh-link e-Commerce platform will enable local businesses in commerce and service industry to receive payments and donations online from domestic automated teller machine cards.

GhiPSS Instant Pay will allow customers to instantly send funds from one bank account to another, irrespective of the bank. It will also facilitate transactions, as funds transferred through this medium would be credited to the account of the recipient instantly.

The Bank of Ghana governor Henry Kofi Wampah said the roll out of the two products was a further demonstration of a cashless agenda and the move to modernize the payment system.

GhIPSS CEO Archie Hesse said: "Today, we are confident that by enabling the domestic ATM to be accepted for payment online a major void has been filled. This should serve as an encouragement for potential e-commerce companies to start re-aligning their business strategy for the future."

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By GlobalData