Is Ghana's Central Bank Competing With Local Ghanaian Fintechs?
On Wednesday, the Central Bank of Ghana along with the Ghana Interbank Payment and Settlement System (GhIPSS) launched a new fintech platform called “GhanaPay”.
The platform allows consumers to link their bank accounts and mobile money wallets to one app and make transfers, pay bills and perform other services.
It’s a very interesting move because it would seem like the banking regulator is now competing with local fintechs. Most other fintechs offer payment apps that perform similar services as the GhanaPay platform.
One interesting thing is that with exception of E-Levy and cash-out fees, the GhanaPay platform does not charge consumers.
So with the Ghana Pay app which is available on iOS and Android, are local fintechs now competing with the Bank of Ghana and GhiPSS? 🤷🏽♂️
On to the news for the week:
Nigeria Releases Draft Policy To Regulate Social Media Platforms
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Will These Buy Now Pay Later Players Be Successful In Ghana?
With “Buy Now Pay Later” (BNPL) trending in many spaces in the fintech world, will BNPL players in Ghana be able to carve out their space in Ghana?
DVLA To Introduce Paperless Registration And Licensing For Vehicles In July 2022
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Central Bank Of Eygpt Grants Lucky Final Approval To Launch Lucky One Card To Customers
Lucky,Egypt’s leading fintech app for credit products, offers & cashback rewards announced that it obtained the Central Bank’s final approval to launch the ‘Lucky One’ card.
Mastercard Forms Partnership With EziPay To Help Consumers Across The Middle East And Africa
Mastercard has partnered with EziPay to help consumers across the Middle East and Africa (MEA) to make global digital commerce payments.