The Vice President of the Republic of Ghana, Dr Mahamudu Bawumia has announced that ”trotro” passengers will soon be able to pay their transport fares from their mobile money accounts.
Speaking in an interview on ‘Kokrokoo’ on Peace FM on Tuesday, August 25, 2020, the Veep noted that Ghana is the only country in Africa doing a Mobile Money Interoperability in the fashion that it has been developed under the Akufo-Addo administration.
“.. right now we are the leading country in Africa on Mobile Money Interoperability. Nobody has done as we’ve done and we were able to do it for USD$ 4.5m…” Dr Bawumia stated.
The Mobile Money Payment Interoperability allows for the transfer of funds from mobile money accounts to bank accounts and vice versa as well as providing a link mobile or bank accounts to biometric payment card accounts.
Bawumia said he “believes this service will make it possible very soon for passengers to pay for their fares through the Mobile Money.”
Dr Bawumia revealed that the government is also initiating a universal Quick Response (QR) code to merge all the telecom networks to ensure transactions are done universally across the nation.
In so doing, it will be possible for transport bus passengers to pay from the accounts to promote a cashless system.
The Mobile Money service has become arguably the most accessible way of financial transaction in Ghana where the formal and informal sectors of our economy have been provided with an equal safe reliable platform.
Statistics show that there are more Ghanaians with Mobile Money accounts than Bank accounts simply because Ghanaians believe the service is super convenient and safe.