Ghana’s Small Lenders Want To Build Their Own Instant Payment Network
- GHASALC is developing a shared instant payment platform with GHAMFIN and CUA.
- The project is called the GHASALC-GHAMFIN-CUA Inclusive Instant Payment System (GIIPS).
- GIIPS is designed as a shared, not-for-profit payment switch for member institutions.
The development of GIIPS represents a significant step towards enhancing financial inclusion in Ghana, particularly for smaller lenders. However, the lack of transparency regarding timelines and funding raises concerns about the project's viability and its potential impact on the existing financial landscape.
