Ghana’s Apex bank, the Bank of Ghana has approved Cross Switch Ghana LTD to operate as an Enhanced Payment Service Provider (EPSP).
Cross Switch Ghana allows local and international merchants to send and receive monies within local markets, across Africa, and into and out of Africa.
It currently operates in countries such as Benin, Egypt, Ghana, Kenya, Morocco, Nigeria, and South Africa.
Commenting on the development, the CEO of the firm in a statement issued earlier this week said that it intends to support Africa’s drive toward strengthening its digital payments ecosystem.
“Cross Switch Ghana, as part of the Cross Switch Group of Companies, is excited about this next step of our journey as an EPSP. We look forward to tapping into the Group’s knowledge base and expertise to provide innovative solutions to the challenges that emerging markets face. We expect to contribute significantly to the digital payments ecosystem in Africa and thus contribute to Africa’s development.”Mr. Saqib Nazir said.
As an EPSP, Cross Switch Ghana is set to leverage its payments and technology infrastructure to digitize merchant payments, collections, and disbursements for e-commerce, remittances as well as financial inclusion.
