GHIPPS Launches E-Zwich Compliant ATMs

The Ghana Inter-bank Payment and Settlement System (GHIPSS) yesterday launched e-zwich compliant ATMs to increase access of the public to their funds.

The e-zwich platform was launched in May last year with the Point of Sale (POS) device as the only type of payment terminal available to the participating financial institutions for providing electronic banking and payment services to the public.

Two other payment terminals are to be introduced to complement the POS device, namely the ATM and the mobile phone. "The e-zwich or biometric ATM launch today is another major landmark on the e-zwich landscape," Mr Fred France, CEO GHIPSS told participants at the launch and expressed the hope that the mobile phone terminal will be launched soon.

He said e-zwich ATM will significantly increase service availability around the country once the financial institutions proceed to deploy the ATMs available on the market.

Mr France said the National Switch and Smartcard Payments System dubbed "e-zwich", is to link the various payment terminals of all financial and non-financial banking institutions.

He said experience has shown that POS is quite robust and versatile as e-zwich cardholders can access banking and payment services at any POS owned by any bank or merchant.

However, a major weakness is its dependence on a human being to operate it, leading to public complaints about operators who can decide whether to do any particular transaction or not.

"The ATM launch today will have a great impact on the above situation, the ATM becomes an alternative and since it is unmanned, it will always provide the service as long as it is in working condition," Mr France added.

In an address read on his behalf, Finance Minister, Dr Kwabena Duffuor expressed the need to expand ATM services using both biometric and PIN based cards.

Currently there are about 500 ATMs operating in the country compared to 60,000 ATMs in the United Kingdom. He said the deployment of ATMs across the country by financial institutions will help expand the availability of electronic banking and payment services to all Ghanaians.

Currently, over 200,000 people hold and use the e-zwich card.

Source: GNA