An inter-bank switching and processing system enabling Ghana’s banks to network their ATMs has been launched.
The Ghana Interbank Payment and Settlement System (GhIPSS) system, ‘gh-link’, will interconnect bank switches and systems of third party institutions. This, the GhIPSS said, will create a common platform which will allow interbank transactions in a way that is effective and efficient.
Archie Hesse, Chief Executive of GhIPSS, said the service could offer varied electronic services although it is starting with the interbank ATM Transaction Switching to enable cardholders to withdraw cash from any ATM outlet.
The project involves 13 banks which have already reconfigured their systems to accept other banks’ ATM cards.
The pioneering financial institutions include Ghana Commercial Bank, Standard Chartered Bank, Agriculture Development Bank and Zenith Bank.
“We strongly anticipate that all banks will be on board by next year and efforts are being made to sign on Visa and MasterCards so that the service would be completely universal in the country,” Hesse said.
While urging members of the public to use the services available on the gh-link platform, he said in the near future local cards would be used for shopping.
He added plans are in top gear to interconnect switches in the sub-region. He therefore advised banks to become innovative and maximize the available opportunities to make banking more appealing to the public.
