Three years after its launch, GhanaPay Mobile money has reached a significant milestone, surpassing one million subscribers nationwide, a testament to the growing trust consumers place in digital financial solutions.
Launched on June 15, 2022, GhanaPay was introduced to transform mobile money services by leveraging the strength of Ghana’s banking sector.
Powered by universal banks, rural banks, and savings and loans companies, and operated in partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS), the platform set out to make mobile money more secure, inclusive, and accessible to all Ghanaians and it has lived up to that promise.
A major turning point in GhanaPay Mobile money’s journey came with the scrapping of the Electronic Transfer Levy (E-Levy), which made all transactions on the platform completely free of charge. Users can now send money, pay bills, buy airtime, and perform a wide range of financial transactions without incurring any fees a development that has led to a surge in adoption across both urban and rural communities.
“This is not just a celebration of a milestone, it’s a celebration of access,” said Samuel Darko, Head of GhanaPay Mobile money services at GhIPSS. “GhanaPay Mobile money has become a true enabler of financial inclusion, providing affordable and secure banking to people who would otherwise be excluded from the formal financial system.”
Beyond zero charges, GhanaPay mobile money distinguishes itself with a suite of advanced features that integrate seamlessly with users’ bank accounts. This direct linkage allows for smooth, charge-free transfers between wallets and accounts.
Users also enjoy access to high-interest savings, automated standing instructions for recurring payments, and the ability to pay bills or support others through innovative tools like sponsored Wallets and crowdfunding.
The high-yield savings wallet allows users to save directly from their mobile wallets and earn competitive interest, supporting financial growth. With standing instructions, customers can automate payments for loans, bills, or contributions thereby encouraging financial discipline and convenience.
GhanaPay mobile money crowdfunding feature supports individuals and communities in raising funds for causes such as education, health, or emergencies. Meanwhile, the sponsored Wallet allows a user (the sponsor) to allocate funds to a beneficiary with spending limits and time controls, offering a safe and flexible way to support dependents.
The platform also continues to expand its utility. Users can now pay electricity bills directly through GhanaPay Mobile money , and purchase data and airtime for both AT and Telecel subscribers, further strengthening its position as a one-stop digital financial hub.
Accessible via both smartphones and feature phones through USSD and mobile app, GhanaPay mobile money ensures digital inclusion for users across all socioeconomic backgrounds. Its backing by licensed financial institutions guarantees a high level of security, reliability, and trust.
As it enters its fourth year, GhanaPay is poised to play an even greater role in Ghana’s transition to a cash-lite economy, aligning with national goals under the Ghana Digital Economy Policy, according to Mr. Darko. “The milestone of over one million users is not just a number it reflects the confidence, value, and growing reliance Ghanaians place on digital financial innovation”, he stressed.
The post GhanaPay mobile money celebrates 3rd anniversary with over 1m subscribers and zero charges appeared first on The Business & Financial Times.
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