By Evans Boah-Mensah
eTranzact Ghana has successfully integrated its payment solutions platform onto the Ghana Integrated Payment and Settlement System (GhIPSS), which will see a significant uptake in the company?s services. The integration is complementary to efforts of Government and the banks to migrate Ghana into an electronic payment society.
This has made eTranzact the only payment solution company or aggregator to be admitted onto the exclusive Gh Link payment switch, which has been designed
to enable financial institutions to utilise a common platform for interbank transactions in an effective and efficient manner.
The integration process, which was completed last week, will enable cards powered by eTranzact to be used on all ATMs with Gh-Link logo and e-zwich POS devices across the country.
Also, cardholders have the convenient and secure Web and Mobile payment options for performing transactions. It will also allow microfinance institutions to issue payment and debit cards that can be used on the platforms of other financial institutions at a relatively lower cost in infrastructure, as is being operated by Women?s World Banking and Midland Savings and Loans today.
?What we are going to do from now on is that there will be a lot of education, partnership, merchant acquisition, more business relationships established with micro-finance institutions to be able to sign onto this wave of electronic payment to be able to create the convenience that will delight their consumers.
?So what is likely going to happen is that we are going to see more activation from the micro-finance point of view, and also see more people undertake mobile phone transactions, mobile banking and card payments for goods and service,? the Chief Marketing Officer of eTranzact Ghana, Kwesi da-Costa Vroom, told the B&FT.
He explained that the integration will provide the company with leverage to get all the financial institutions to open up and function equally within the existing infrastructure.
?We are getting to the point where we will need to have more delivery systems, because then institutions that have Internet where they display some of their products and wares with prices can have a payment engine integrated into their website, whereby people can remotely make payments using their regular ATM cards within a secure environment,? he said.
Mr. da-Costa Vroom said demand for eTranzact services has been overwhelming, with many individual and institutional customers such as GCB, Standard Chartered Bank, Barclays Bank, Zenith Bank, UBA, Energy Bank, Access Bank among others utilising the company?s payment solutions.
eTranzact?s integration into the GhIPPS platform has come at a time when the demand for e-Commerce services is expected to grow exponentially.