A Ghanaian owned third-party payment processor (TPP), PaySwitch Company Limited, has been certified as ISO 27001 compliant. 

This award is a validation of the company’s strides to provide Ghana with an authentic locally established TPP to banks and other businesses who are driving a digital payment agenda. 

ISO 27001 is an international standard for information security with respect to how risk is managed through an organization’s information processes and controls. 

The certificate is globally recognized and when awarded to an organisation, it confirms its compliance with a high standard of Information Security Management System (ISMS). A certified company is equipped to protect the information of both its clients and staff.

PaySwitch provides integrated payment solutions that facilitate the circulation of money as well as the exchange of value between individuals (C2C); individuals and organizations (C2B); organisations and individuals (B2C); and between organisations (B2B) on a timely and consistent basis. 

Among the profile of products and solution within issuing and acquiring are: (1) Payment Card [Visa, MasterCard, UnionPay and GhLink] (2) Wallet Services [TELA Wallet and Proprietary Wallet] (3) Loyalty Card / Scheme [Mileage reward programs] (4) Anti-Fraud Solutions (5) Monitoring & Prevention (6) ATM & Smart POS (7) MomoPOS [Mobile Money Point of Sale via Android App and OS] (8) E-commerce (9) QR code.

At the presentation ceremony held at the premises of the company, Mr. C.K. Bruce (C.E.O – Innovare) remarked in his speech that, “we are honored to be associated with PaySwitch because it is a company that is going to be a stamp in the industry”. 

He continued: “this certification means that PaySwitch’s environment of operation is mature and raised to a global standard.”

Kojo Choi who is the Managing Director of PaySwitch said: “I’m glad the company is continuously making progress in the Ghanaian market. This certification is part of our growing effort to give Ghana its own authentic third-party payment processing company which then empowers local processing of transactions.

“We have done a lot of pioneering work in this space and we believe our clients will have more confidence to grow with us”. 

PaySwitch currently is switching and providing various aggregated services to five major banks in Ghana and has over 3,000 merchants.

The company is set to launch the biggest marketplace platform in Ghana in the coming weeks which is estimated to have over two million subscribers from its day of launch.