The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), the national payment systems infrastructure provider, has announced a groundbreaking partnership with Visa, a global leader in digital payments.
This strategic collaboration aims to have GhIPSS process domestic transactions denominated in Ghana cedi with Visa cards issued in Ghana, aligning with the Bank of Ghana's Guidelines for Domestic Processing of Payment Card Transactions with Payment Cards Issued in Ghana, published in August 2021.
Incorporating Visa's advanced payment processing technology into its platform, GhIPSS, as the national switch and a provider of interoperable platforms for digital financial services, will enhance its capacity to process payments domestically in Ghana. The partnership is expected to deliver on Visa's brand promise to domestic customers while fostering financial inclusion expansion across the country.
Archie Hesse, CEO of GhIPSS, expressed optimism about the partnership, stating, “Our partnership with Visa, a global brand that has extensive experience in digital payments, is an important step for our business. It is an outstanding opportunity for us to leverage Visa's expertise and assets to get better at our craft while delivering value to Visa customers in Ghana.”
Andrew Uaboi, Vice President, and Cluster Head of Visa West Africa, emphasized the commitment to driving financial inclusion expansion across Ghana.
He stated, “We believe that by leveraging our global network and innovative payment solutions, we can empower individuals and businesses, fostering economic growth and prosperity for all.”
GhIPSS' payment infrastructure, utilized by all banks in Ghana, including the ARB Apex Bank and its affiliates, savings and loans companies, and third-party payment services providers, position the organization as a pivotal player in the country's financial landscape.
This collaboration is anticipated to extend into other areas of mutual interest in the future, according to Archie Hesse.
