Chief Executive of Ghana Interbank Payment and Settlement System, (GhIPSS) says Ghana is ready to move to a cash lite society.

Archie Hesse, speaking on PM Express Business Edition, said the country has all the needed infrastructure in place to fully go cashless.

He said although GhIPSS is ready to see the cashless economy running,“the various government bodies as well will need to ensure that they also have systems that are connected to ours to be made available to their customers.”

“So far as the centre is concerned, the GhIPSS systems are concerned, yes we are ready… so far as system reliability and availability from our end is concerned yes we are ready,” he told host George Wiafe.

He further explained that Ghana has three main platforms in the world of payment currently which have its services rising in these platforms.

“Yes if I look at the platforms that we have in Ghana and the product or the services that rise in these platforms, in the world of payments we have 3 main platforms, the clearing house which comprises of the cheques payment, the ACH, the batch payment and the ACH direct debit and ACH direct credit.

“In Ghana as we speak, when we look at cheque clearing, it’s cleared same day or next day. We also have the ACH direct credit which is mainly used for bulk salary payment. We also the express which means that within 4 hours you will paid and the next day as well.”   

All these platforms, he said, shows the readiness that Ghana has the infrastructure to fully go cashless.