Bankers asked to embrace modern trends in payment systems
Mr Richmond Atuahene, Director of Studies at the National Banking College has asked bankers to understand the benefits that the use of electronic payment system could bring to their institutions.
He said the entire world has turned its attention to electronic form of payment and the bankers needed to make the best out of it for themselves and their customers.
Mr Atuahene said this during a lecture on Marketing of Payment Systems for participants, who were pursuing a programme in Marketing of Banking Services and Products, at the banking college on Saturday.
He said the decision by the Banking College to invite an official of GhIPSS was to expose the bankers to the practical realities of their field in terms of payment systems.
The lecture delivered by the General Manager of Ghana Interbank Payment and Settlement Systems (GhIPSS), Mr Archie Hesse, dwelt on the country’s payment systems and how the banks could exploit it to reduce cost and to rake in more revenue.
Mr Hesse outlined the processes that led to the establishment of GhIPSS, the products that have been introduced by the institution as well as some of the new projects under way.
He dispelled the notion that monies kept on the e-zwich card rested in the vaults of the Central Bank, saying monies deposited on an e-zwich card remained with the banks that issued the cards.
He said banks had through the issue of e-zwich cards and also by encouraging the cardholders to mobilized enough deposits and expanded their customer base.
The GhIPSS General Manager also encouraged the banks to ensure that their e-zwich POSes are always active. He told the bankers that any time they failed to provide e-zwich services, their customers moved to other banks.
He, therefore, urged the marketers to study the payment system and fashion out how to rake in good money from the huge unbanked population.
On the acquisition and deployment of e-zwich POSes, Mr Hesse advised the bankers to carefully choose which outlets to place the POSes.
He said if the POSes were kept in shops with heavy traffic, the banks could make a lot of money.
He stressed that a POS is as good as a bank branch if the banks choose the location strategically.
Mr Hesse explained to the bankers that the e-zwich service is largely a low margin high volume product, adding that with over 80 per cent of unbanked population, the banks, with the right strategy can rake in huge revenues.
He said some banks were making very significant inroads urging the others to follow suit otherwise they would have to scramble for the crumbs.
In a related development, a training programme for the Automated Clearing House has begun with the banks. Other organisations including insurance, airlines, manufacturing, telecommunications and haulage companies would take their turn this week.
Source: GNA