Tuesday, October 15, 2019
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Mobile Money Interoperability Crosses the 1 million Mark

Cross mobile money money transfer service known as the Mobile Money Interoperability launched by Vice President, Mahamudu Bawumia in May 2018, has recorded over 1.1 million in transaction volumes.

The over 1.1 million transactions was recorded at the end of September, the latest data from the Ghana Interbank Payment and Settlement System (GhIPSS), indicates.

The total value of cross-network transactions amounted to about 99.3 million Ghana cedis.

In its first month of operations, only 96 thousand transactions took place but that figure has risen steadily over the period to over 312 thousand transactions in the month of September alone.

Chief Executive of GhIPSS Archie Hesse said the continuous growth in the volume of transactions clearly shows that the mobile money interoperability came to fulfil a need.

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