Payment Systems

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https://www.bog.gov.gh/wp-content/uploads/2022/01/National-Payment-Systems-Strategic-Plan-2019-to-2024-2.pdf⁠

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Summary of Objectives of BoG Payment Strategy Document

Foster efficient payments through improved infrastructure and reduced reliance on cash.

Improve financial inclusion by expanding access points and digital financial services.

Enhance financial innovations through support for fintech and creation of enabling regulatory frameworks.

Develop comprehensive regulatory and governance frameworks for payment systems.

Promote free, competitive market development that encourages innovation in the payment ecosystem.

Build safe and efficient payment systems that foster confidence and encourage usage.

Promote interoperability of payment systems across platforms and eventually across West African countries.

Foster consumer trust through education, fraud protection and dispute resolution mechanisms.

Participate in regional payment systems integration, particularly with other West African nations.

Recapitalise and commercialise GhIPSS (Ghana Interbank Payment and Settlement Systems).

Promote open data initiatives and data sharing standards.

Strengthen capacity building for staff and stakeholders within the payment ecosystem.

Enhance communication and awareness of digital payment options.

Implement anti-fraud solutions to protect the payment ecosystem.

Enable collaborative e-commerce payment methods for broader economic development.

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