Ghana’s authorities pushed back the introduction of mobile money interoperability for the third time, with a national platform now expected to launch in May – six months later than originally planned.
In comments reported by Citifmonline, Ghana vice president Mahamudu Bawumia said the system to enable direct transfers between different mobile payment providers would be a vehicle to increase financial inclusion, move the country towards a society less reliant on cash and increase investment into the sector.
The news website said previous deadlines of November 2017, January 2018 and February 2018 had been missed due to a range of technical issues. The platform is being developed by Ghana Interbank Payment and Settlement Systems. Once introduced, it will enable direct cash transfers between users of the country’s mobile money services and traditional banks.
Interoperability of mobile money services is a strategic priority highlighted by the GSMA in reports on Africa’s burgeoning sector. Although many countries still lack this ability, there has been significant progress in major markets in recent months.
In January, amid growing pressure, Kenya market leader Safaricom revealed it would pilot interoperability with Airtel. During February, authorities in Tanzania announced enhancements to its existing interoperability arrangements to include all players.