least 95% of all government payments to people and 75% of payments by
people to the government would be digitised by the end of 2020.
will mean payment transactions by the government would be largely
done via electronic means.
move is part of the National Payment Systems Strategic Plan
(2019-2024) that provides a framework for the orderly development of
a national payment system that is efficient, safe, accessible and
fosters innovation and electronic means of payments.
the same time, the Bank of Ghana and the Ministry of Finance are
developing a payment plan that will ensure that 90% of government
benefits, including social intervention schemes such as NHIS and
informal sector wages, are also paid electronically by the end of
the Public Utilities Regulatory Commission and the Ministry of
Finance will also encourage electronic payment for utilities (water
and electricity). The Bank of Ghana, in this regard, will issue a
directive on an incentive-pricing scheme that favours electronic
payment system by the end of 2020.
strategic initiative is to promote digital means of paying employees,
promote government transactions on electronic platforms, develop and
roll out a hybrid or mobile point of sale (mPOS) capability; monitor
ATM switching and activity among others.
new strategic plan builds on the 2014 Strategic Roadmap by providing
a policy framework to stimulate the electronic means of payment in
Ghana and encouraging shared responsibility in the implementation of
Bank of Ghana said payment systems are undergoing significant changes
driven by technological advancement and evolution of customer needs.
payment is also gradually edging out paper-based payment instruments
on account of its relative efficiency.
demand for convenience, speed and accessibility in payments are
encouraging the deployment of digital payment products.
Ghana, mobile phone penetration has enhanced the appeal of mobile
money for payment services, and holds prospects for overcoming
constraints to financial inclusion.
is, however, recognised that it requires substantial efforts for
paper-based payment habits to change to the electronic ones.