By the end of March, 2013, bank customers will be able to use their traditional ATM cards on any Point of Sale device for any transaction across the country.
This is the next major project for the Ghana Interbank Payment and Settlement System (GHIPSS).
Currently, most Point of Sale Devices in shops and other service-providing areas can only take E-zwich cards.
The Chief Executive Officer of GHIPSS, Mr.
Achie Hesse however told Citi Business News
, every bank customer with an ATM card can transact business on any Point of Sale device by end of the first quarter next year.
He said: “We will start with the E-zwich cards and the proprietary cards.
We are still in negotiations with the Master Card and Visa and they will join shortly after the negotiations have been completed.
But technically, the hybrid point of sale device should be able to accept all cards in the system so that will increase the usage of spending off your card as opposed to going to an ATM and then withdrawing cash before spending which is where we really want to get to.”
According to Mr.
Hesse, the concept of ATM is an interim measure because his outfit wants to “drive Ghana into an electronic payment society which means we want to reduce the reliance on cash for payment.”
“Having an inter operable environment for ATMs will encourage individuals to put their money at the bank and then have access to it.
But ultimately, what we want to get to the stage where individuals are able to shop off their cards either using the point of sale device or via the internet,’ he added.