Transactions in Ghana using smart card payment system E-zwich have soared by almost 60% from 2016 to 2017, after the government started using the online platform to pay government employees.

The volume of transactions on E-zwich rose 56% from GHC5.4 million in 2016 to GHC8.3 million last year, as reported in Asoko Insight.

According to the Bank of Ghana: ‘The increasing trend in E-zwich transactions can be attributed to government’s use of the system to pay caterers of national school feeding programmes, beneficiaries of the Livelihood Empowerment Against Poverty (LEAP) and the Youth Employment Agency (YEA), Nurses and Teacher Trainees allowances, Students Loans Trust Fund and personnel of the National Service Scheme as a means of ensuring efficiency in payments and eliminating waste in public expenditure.’

The platform offers services at merchants’ point of sale, cash withdrawals, deposits as well as the transfer of funds.

However, due to inadequate point-of-sale devices and lack of awareness, most cardholders do not use the card to pay merchants and beneficiaries. They still prefer paying for goods and services by withdrawing cash from ATMs, according to the report.

19 June 2018
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