Phase two of mobile money interoperability launched by Bawumia

Phase Two of the Mobile Money Interoperability platform has been launched by the Vice President Dr Mahamudu Bawumia in Accra.

The launch of Phase two of the Interoperability platform concludes the Financial Inclusion Triangle, and ensures universal interoperability, making Ghana one of the few countries in the world to attain this feat.

The Vice President speaking at the launch said there should be a review of the cap on daily mobile money transfers.
He explains this should reduce the turnaround time for businesses and individuals.

“Given this powerful platform, it may be necessary to take a second look at the ceiling we have placed on the amount of money that can be transferred daily of course with the attendant security to ensure that the system is not compromised. This is to ensure that people and businesses will have the latitude to send and receive money across these platforms,” he said.

Dr. Bawumia added, “The possibilities are really major and I am counting on our fintechs to help lead the drive on our full utilisation of the platform that has been created.”

Between May and October this year, the mobile money interoperability platform had recorded 1.4 million worth of transaction with value of over 140 million cedis.

The phase two of the mobile money interoperability allows one to send and receive money from a mobile money account to an ezwich account.

Read also: Phase 2 of mobile money interoperability to be made available on Wednesday

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