GhIPSS Instant Pay transactional value doubles in a year
![](https://cdn.classfmonline.com/imagelib/thumbs/91751421.jpg)
The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) Instant Pay (GIP) recorded a total volume of 115,368,700 transactions in 2023 with a total value of GH¢120.10 billion compared with a total volume and value of 76,483,008 and GH¢58.70 billion, respectively, in 2022.
This showed an increase of 50.84 per cent in transaction volumes and a 104.61 per cent increase in transaction values, the Bank of Ghana’s Payment Systems Oversight Annual Report 2023 has revealed.
Also, the number of registered internet banking customers increased by 16.60 per cent to 1,317,003 in 2023.
Similarly, the number of registered mobile banking customers increased by 51.54 per cent to 7,287,579 in 2023.
The total value of internet banking transactions increased by 22.90 per cent to GH¢98.87 billion in 2023 compared with GH¢80.44 billion in 2022.
The total volume of internet banking transactions also increased by 30.65 per cent to 13,501,492 in 2023.
The value of mobile banking transactions was GH¢80.40 billion in 2023 compared to GH¢38.48 billion in 2022. The volume of mobile banking transactions was 66,941,069 in 2023 compared to 65,322,898 in 2022.
Trending Business
Germany’s Deutsche Bank found to be Ghana’s highest creditor ahead of China and World Bank
11:02Jamestown fishing harbour set for commissioning Sept. 13 – Eugene Arhin
13:212023: Fraudsters bag ¢88m from banks, SDIs, PSPs – BoG report
11:14200 SA students to benefit from AngloGold Ashanti Legacy Scholarship Endowment
10:56Margins ID Group receives cybersecurity accreditation from CSA
10:57Galamsey: Ghana 'on the verge of generational food crisis' – Peasant farmers warn
10:27MPC holds 120th meeting from Sept. 24 – 27
10:54Our CEO never accused Russian gov’t of complicity in cocoa smuggling – COCOBOD
10:15Scrap bitumen import tax waivers – GOIL MD urges protectionist move against foreign bitumen
10:45CalBank appoints Carl Selasi Asem as new MD
09:59