Full Charges On Mobile Money Transactions To Resume Today After A 3-Month Grace Period

Mobile money subscribers across all platforms are expected to resume the payment of full charges on all transactions, as the 3-month grace period introduced by the Ghana Interbank Payment and Settlement Systems (GHIPSS) to mitigate the hardships accompanying the coronavirus pandemic, has officially ended.

The Ghana Interbank Payment and Settlement Systems (GhIPSS), a wholly-owned subsidiary of the Bank of Ghana, in March announced a waiver of fees on electronic payment transactions (from 1 to 100 cedis).

In a press statement, it said all commercial banks, Fintechs and Mobile Money (MoMo) Operators, leveraging the various platforms to offer electronic payment services were not going to incur any service charges relative to the limit stated above.

Should the incentive fail to be extended, customers on all mobile money and interoperability platforms will resume the payment of all the charges on transactions.

Source: GhanaFeed.Com