According to the latest data from the Ghana Interbank Payment & Settlement Systems (GhIPSS), digital transactions in Ghana saw a tremendous increase both in volume and value in 2020 compared to 2019.
The data showed that a total of 77 million transactions were recorded on all platforms compared to the 38 million transactions in 2019. This represents an increase of 103% in digital transactions.
The report indicated that the transactions captured in the GhIPSS product performance report include electronic clearing of cheques, Automated Clearing House (ACH), e-zwich, and gh-link. All these saw different increases in transaction volumes.
The data showed that the number one contributor to the increase was Mobile Money Interoperability (MMI). The MMI recorded a total of 43.9 million transactions, representing a 367% increase from 9 million transactions processed in 2019.