Ghana Oil Company Limited, (GOIL) has actually partnered the Ghana Interbank Payment and Settlements System (GhIPSS), to supply a digital payment alternative focused on guaranteeing efficiency and safety in financial purchases at fuel station.
The collaboration will certainly allow customers to purchase fuel and also other items at GOIL filling station with the use of the GH-link cards supplied by the Ghana Interbank Settlement and also Settlements System (GhIPSS).
Introducing the new product, the Head of IT and Planning at GOIL, Anthony Twumasi, claimed the firm’s decision to synchronize its existing payment system with GHIPSS’ nationwide settlement system, will certainly make its services conveniently obtainable to all its financial industry clients irrespective of their banks.
He claimed the GH-link deals an extra straightforward and also convenient settlement choice for consumers equally as the firm’s own GOCARD, as well as using the card also provides an opportunity permanently record keeping as all purchases can be assessed in the system’s electronic database.
Customers will certainly have the ability to utilize the cards to buy fuel as well as various other things in all GOIL gas station across the nation.
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He said GOIL is committed to supporting government’s digitization agenda to modernize payment systems and thus will optimize its systems to be compatible with other digital payment options such as the universal Quick Response (QR) code which Ghana is the first country in Africa to harmonize.
The COO of GOIL, Alex Adzew, called on financial institutions to patronize the GH-link platform to make inter-bank transactions seamless and more efficient.
He said the company plans to eliminate the use of cheques by exploring digital payments to make transfers to accounts of its suppliers through GHIPPS’ payment platform.
The Head of Payment Systems at Bank of Ghana (BoG), Dr. Kwabla Amediku Settor, said developing domestic card schemes like the gh-link cards for banks and customers has several advantages, including economic efficiency and competitiveness in business transactions.
He indicated that the Bank of Ghana, in a bid to broaden the acceptance of electronic payments, has pursued various policy initiatives, created supportive payment system infrastructure, and provided regulatory frameworks to support innovative financial products and services in the country.
The CEO of (GhIPSS), the BoG subsidiary mandated to facilitate inter-bank transactions, Archie Hesse, said the GH-link card scheme was developed under the direction of the Central Bank of Ghana to provide Ghanaians with a secure home-grown card which rides on a system that connects all financial institutions in the country; thereby giving customers access to Automated Teller Machines & POS terminals of all member institutions.
Mr. Hesse said the Scheme published the National EMV Standards and Specifications for the issuance and acceptance of EMV cards in Ghana in 2016, making the gh-link card safe for all ATM, POS as well as online transactions and also compliant with international standards for cards.
