Shop owners and retailers could increase their sales with the adoption of Point of Sales (POS) devices for transactions.
This is the advice from the Ghana Interbank Payment and Settlement Systems (GhIPSS).
GhIPSS, which aims at achieving a cashless economy, also believes transactions could extend after normal working periods as shoppers would not be limited by the cash they carry on them and can afford to spend more.
The Chief Executive of GhIPSS, Archie Hesse also tells Citi Business News his outfit is collaborating with banks to facilitate the use of the hybrid point of sale devices to champion this cause.
“We want to reduce the use of cash in the country and as usual, we are partnering with the banks to deploy the hybrid point of sale device which accepts both the E-zwich and local cards and the other international cards as well,” he said.
Mr. Hesse added, “We’re bringing to the attention of the various shops that they can actually deploy the hybrid point of sale devices and in so doing, their customers can have the option of paying for their goods and services in using cards as opposed to using cash.”
Instant interbank transfer takes off
Meanwhile Mr. Hesse has indicated that the instant interbank cash transfer system introduced last month is currently being carried out in real time.
He however explains that only about seven banks can either receive, send or conduct both transactions.
The GhIPSS boss is however optimistic that the process will be fully implemented by the end of this year.
“We have moved from the pilot stage to the live stage where we currently have about seven to eight banks that are able to send instant interbank payment with about the same number that can receive. The rest of the banks are going through various certification stages and I believe that by the end of this year, all banks must be on board,” he stated.
The instant interbank transfer system allows a customer to withdraw or deposit into a personal or another account in the same bank or another bank, in real time.
By: Pius Amihere Eduku/citibusinessnews.com/Ghana