Author: JT

There has been a transition that has occurred throughout the entire country.

A major change has been going on in Ghana, where all banks will soon be able to bring in mobile payments as an offering for their customers, following enhancements that have been made to the interbank switching and processing system in the country.

This was done by Ghana Interbank Payment and Settlement Systems (GhIPSS), a Bank of Ghana subsidiary.

The enhancements that were made to the national switch were to the gh-link platforms. That is the interbank switching and processing system from GhIPSS which interconnects switches that are run by the country’s various financial institutions and third party institution owned systems. GhIPSS came up with a gh-link mobile payments system in partnership with eTranzact, a Nigerian transaction company. The introduction of gh-link mobile is an element of the mandate from the GhIPSS to turn Ghana into a society that functions with digital transactions. This, according to the chief executive of GhIPSS, Archie Hesse.

Hesse explained that the mobile payments system has been developed and will soon be tested.

The mobile payments system has already been created. Its testing will begin near the start of 2014 before it will officially be rolled out. All of the country’s banks will then be able to add smartphone based transactions to their offerings.

In 2012, gh-link ATM was introduced by GhIPSS, which gives the debit cards in the country the ability to be use in nearly all of the ATMs throughout the entire country. The Ghana News Agency reported that officials from GhIPSS official have been meeting with other transaction companies. For instance, meetings with MasterCard have brought about integration with cards that are branded by that credit card company into the gh-link platform of ATMs.

Furthermore, beyond mobile payments, GhIPSS has also started a pilot project that uses gh-link hybrid PoS (point of sale) terminals that allow customers of the banks in the country to be able to shop using their local ATM cards. The smartphone based transactions will be added on top of that gh-link platform in order to provide consumers with an added level of flexibility.

New report highlights the growth of mobile commerce since 2012

A new report from 41st Parameter, a global fraud prevention firm, shows that mobile commerce is experienced significant growth since 2012. The firm notes that more consumers are becoming attracted to mobile shopping due to its convenience. Shopping from a mobile device requires no waiting in lines and most online retailers do not suffer from any significant shortcomings when it comes to inventory. Moreover, mobile shopping is considered more convenient during the holiday season due to the chaotic nature of traditional shopping during this time of year.

35% increase in mobile shopping since beginning of 2013

According to the report, mobile commerce has grown by 35% since the beginning of the year, with e-commerce of all kinds growing by 15% over the same period. Approximately 8% of mobile sales were made through a smartphone, with 13% coming from tablet devices. The report notes that consumers appear to favor tablets over smartphones when it comes to mobile shopping by a significant margin.

Tablets are taking over mobile shopping

Tablets may be favored over smartphones because they offer a more enjoyable shopping experience. The larger screens are easier for consumers to manipulate, making navigating mobile retail sites more convenient. Tablets tend to offer a shopping experience that is quite similar to that provided by PCs and laptops, which may create some sense of familiarity for those that participate in e-commerce on a regular basis.

Consumers likely to replace their PCs with tablets

A similar report from Adroit Digital shows that 55% of consumers are likely to replace their PCs with tablets when it comes to mobile commerce. The benefit of tablets is that they can be used in-store, whereas a PC is a stationary device. Tablets can, therefore, easily be used by consumers to compare products and find deals being offered in a physical store or by a retailer located nearby.