Monday, May 20, 2019
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Second phase of mobile money interoperability launched

On Wednesday, November 28, 2018 the Vice President of Ghana, Mahamudu Bawumia launched phased two of the Mobile Money Interoperability Platform. The launch concludes what the Vice President calls the Financial Inclusion Triangle, and ensures universal interoperability, making Ghana one of the few countries in the world to attain this feat.

The second phase has completed the interconnection between Mobile Money and the e-zwich Payment Systems. This means customers can now move funds from their mobile money wallets to their e-zwich cards. The second phase will ensure seamless transactions across various platforms thus: bank accounts, Mobile Money wallets and the e-zwich payment systems.

Phase One of the project, launched on May 10th, 2018 saw the interconnection of the mobile money platforms, but not the E-zwich Payment Systems. phase one allowed customers to transfer funds between the various mobile money services provided by the telecom companies (MTN, Vodafone and AirtelTigo)

Speaking at the launch on Wednesday 28th November, 2018, Vice President Bawumia, said this universal interoperability - known by players in the fintech and banking circles as the Financial Inclusion Triangle, because it interconnects three payment platforms; mobile money, bank account and e-zwich.

Vice President Bawumia commended the Board and Management of the Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), Bank of Ghana, Financial technology (Fintech) companies, the telecommunication companies, and all the partners for their cooperation and contribution towards the attainment of Mobile Money Interoperability in Ghana.

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