Financial institutions to scale up drive for cashless transactions

Mr I. Ofori Quaye, Ho Branch Manager, Barclays Bank, has called on financial institutions to get Ghanaians accustomed to “cashless money transactions”.

He conceded though that various modules of electronic banking and other arrangements were going on, the volumes were not at par with the size of the Ghanaian economy.

Mr Quaye was speaking at a durbar in Ho to formally welcome the “MTN Mobile Money Train” to the Volta Region.

The MTN adopted the “MTN Money Transfer Train” marketing gimmick to hype the then novelty money transfer scheme using the cell which was launched in July last year.

The MTN, the largest mobile telephone communication market share holder in Ghana, is in the transfer scheme with the collaboration of nine banks.

Mr Wilson Aganya, Zenith Bank Ho, Branch Manager, said the MTN Money transfer scheme was fluid and would “add value to those who patronize it”.

Nii Adotey Mingle, Mobile Money Senior Manager, said privacy was assured in the transactions.

He said the scheme’s competitive strength was that the service provider had posts spread throughout the country, which were accessible at the convenience of the customer.

Colonel Cyril Necku (rtd), Deputy Volta Regional Minister, said the scheme’s accessibility to rural people was commendable.

Abdul Majeed Rufai, MTN Mobile Money Transfer Implementation Controller said registration under the scheme covers the customer under the National Communication Authority’s Sim Card Registration policy.

Tables were pitched at the durbar grounds to register sim cards and educate customers on the MTN Money Transfer.

Source: GNA