Mobile Money Interoperability Begins Next Week

The Ghana Interbank Payments and Settlement Systems (GhIPSS) has stated that all is set for the official roll out of the Mobile Money Interoperability system.

The Vice President Dr. Mahamudu Bawumia is expected to launch the roll out of the system next week.

The system will make it possible for users of mobile money to send money from one mobile phone network to another seamlessly.

The mobile money interoperability is only the first phase of a bigger project that will ensure that the public can also transfer funds from their bank accounts to mobile money networks as well as to E-zwich cards and vice versa in what is being termed the Financial Inclusion Triangle.

Speaking to Starr Business on the launch of the system, the CEO of GHIPSS, Archie Hesse explained what interoperability is saying: “It’s the process whereby one is not confined within your own environment.”

“For example, if you are with bank ‘A’ you can use bank ‘B’ infrastructure. If you are with a bank and you have mobile money, you can also move money from your bank account into your mobile money account. So, you are not restricted at all. It gives you the flexibility to move between mobile money, E-zwich and also your bank account,” he added.

Source: Ghana/