Audio By Carbonatix
Your local ATM card could soon work in outlets in Nigeria and Francophone West African countries as well as Cape Verde.
This is being made possible through the integration of the payment systems of Ghana, Nigeria, Cape Verde and the zone of West Africa Economic and Monetary Union (UEMOA).
The ECOWAS driven project which is in its advanced stages is part of a central sub-regional payment system that is being driven by the Economic Community of West African States (ECOWAS).
The Chief Executive of GhIPSS, Mr. Archie Hesse says even though ECOWAS plans to have a central West African payment platform, it has been agreed that a pilot be rolled out by integrating the four payment systems, after which the remaining countries will be joined on to the central platform. This was at a meeting in Senegal among the Chief Executives of the GhIPSS, the Nigeria Inter-Bank Settlement System (NIBBS) and their Francophone West African counterparts.
When the integration is complete, the ATM cards will work in ATM outlets, POS'es and for interbanking. The Chief Executives did a demonstration where local ATM cards from different countries worked on a Point of Sale device.
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