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.