E-payments Will Cut Robberies – GhIPSS CEO

The Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GhIPSS), Archie Hesse, has called on the public to do more electronic transactions in order to reduce their exposure to robbery attacks.

His advice comes in the wake of rising armed robbery attacks on companies where huge sums of money are withdrawn.

On Wednesday, 28 February, a 54-year-old Lebanese cashier of an Agro-businesses company was gunned down by four robbers who took away an amount of GHS200,000 he had withdrawn from a Zenith Bank branch.

Mr. Hesse expressed displeasure about the incident but added that it was time for Ghanaians to reduce cash transactions.

He said several electronic payment channels exist in Ghana which can enable both organisations and individuals to make payments without using cash and pleaded with the public to turn to these non-cash forms of payments.

People have lost money through robberies, fires, floods and other disasters because of preference for cash but Mr. Hesse pointed out that electronic payment channels can save a lot of trouble.

“Today, your money at the bank is as good as cash on you,” he stressed.

Mr. Hesse advised organisations to use payment options such as cheques, Automated Clearing House (ACH) Direct Debit or Direct Credit, internet and mobile banking to receive or make payments and added that in situations where the organisation wants the money instantly transferred, they can set up and use the e-bills pay or mobile money for smaller values.

The GhIPSS CEO noted that cheques can be cleared the same day through the express service, which, he said, was another important non-cash form of payment for both organisations and individuals.

“There is a variety of electronic payment channels working efficiently in Ghana that organisations and individuals can access through the financial institutions,” he emphasised.

The GhIPSS boss said his office will continue to ensure the efficient running of the platforms supporting these electronic payment options and urged the banks to ensure that these services are offered seamlessly to boost public confidence in them, stating that “technology is an enabler, it is there to solve problems, so let’s use it to address our exposure to robberies.”

Source: thebftonline