Ghana Interbank Payment and Settlement System (GhIPPS) has launched E-zwich compliant Automated Teller Machines (ATM), aimed at reducing the use of cash for transactions and to gradually migrate to electronic and automated payments systems in the country. It is also to Improve the efficiency, reliability and timeliness of payment systems in the country's financial market. The E-zwich-compliant ATMs will allow users to use those of any bank. The E-zwich platform was launched in May last year, with the Point of Sale (POS) device as a payment terminal available to participating financial institutions for providing electronic banking and payment services to the public. Dominic Donkor, Director of Financial sector Division of the Ministry of Finance and Economic Planning, who launched the equipment in Accra on behalf of the Finance Minister, Dr. Kwabena Duffuor, said: "Electronic payments maintain an audit-trail and complete transparency, which goes a long way to minimise corruption and also to eliminate black market transactions. The launch of the ATMs and their ;@sequent deployment across the country by financial Institutions will help expand the Viability of electronic banking and payment services to all Ghanaians. Mr. Donkor Indicated that government Is looking forward to the day when revenues will be collected electronically and payments transferred automatically to the account of the beneficiary. "Government looks forward to the day when its employees will be paid through E-zwlch as a means of minimising the existence of 'ghost-workers' in government department payrolls. " He explained that government has followed with keen interest, the steady progress E-zwlch Is making with respect to the issuance of cards to banked customers and the unbanked. "Government also notes with satisfaction the increasing number of POS devices across the country and the opportunity for everyone to access electronic payment in their neighborhood," he said. Mr. Frederick France, Chief Executive Officer of GhIPPS, said the objective of the national switch and smart card payment system is to link the various payment terminals of all deposit-taking financial institutions; such that they become accessible to customers of any bank or savings and loans company.' "The POS has proven this Interoperability, as E-zwich cardholders can access banking and payment services at any POS owned by any bank or merchant. "The operations of the E-zWlch ATMs are expected to ease the suffering of customers who have to travel long distances to withdraw monies at the banks," he remarked. Source: B&FT