Ezipay: The Game-changer for Ghana’s Digital Financial Services

Accra, Ghana, January 13, 2020//-Ghana’s enthusiastic efforts of becoming West Africa’s hub for digital financial services (DFS) have been boosted by the meteoric penetration of smartphones, robust IT infrastructure, sound policies and growing middle-class.
Similarly, several vital elements have contributed to the shift to digital payments, notably good connectivity, budding financial technology (fintech) industry, growing financial infrastructure, and a continuously improving regulatory environment.

Significantly, there is also a common recognition of the need to continue building an inclusive and responsible digital payments ecosystem in the West African second largest economy.

Doing so is driving financial inclusion, particularly for women, improve transparency of payments, and open up new markets for goods and services, which in turn support economic growth.

Ghana’s Ministry of Finance and the UN-based Better Than Cash Alliance  in 2017 released a report titled ‘Building an Inclusive Digital Payments Ecosystems: The Way Forward’ documenting the country’s progress in creating an economy where everyone can pay and get paid digitally, instead of cash.

According to the report, 80 percent of the population uses public essential services such as water and electricity, but only 20 percent of the population has access to digital technology such as smart meters.

With 97 percent of fees and fines currently paid in cash, the Ghanaian government could gain enormous cost savings if they commit to using digital payments exclusively and mandate all government agencies to use a central payment system.

For Fast-moving consumer goods (FMCG) companies operating in Ghana, 96 percent of distributor payments and 59 percent of vendor and employee payments in volume are made in cheques, the report noted.

However, 99.9 percent of individual payments for consumption goods by volume are still completed in cash, as individuals continue to purchase essential consumer goods, including food, in the informal economy with small retailers.

In view of this, the chief executive officer and the chief operations officer for A.I Technologies Limited decided to invest and set up a payment solution platform known as Ezipay with amazing features.

Why Ezipay is the game-changer

This is the void Ezipay which is one of the fastest growing fintech companies with presence in Ghana, Sierra Leone and Francophone countries, is in to fill.

It is also further expanding in Cemac Countries, Zambia, Liberia, Ethiopia, Guinea Conakry and DRC.

So Ezipay is meant for customers who are using smartphones. While the QR code driven payment technology for merchants (scan and pay).

Ezipay also enables payment to Merchants or P2P via QRcode scanning or from any of 140 countries in the world.

Furthermore, customers can perform money Transfers from 140 countries to Ghana via EziPay App.

The vision of the chief executive officer Mr Amit Gaur and Chief operations officer Rizwan Ramzan is to see Africa investors build good payment platform for their clients without stressing them.

Services and features

 Ezipay customers can register for these services to transfer money, buy airtime, pay bills, transfer funds and conduct mobile money transfers, booking and purchasing for air tickets locally and international, amongst other functions.

Precisely, Ezipay allows instant money transfer into mobile money wallets and bank account from 149 countries to Ghana, Sierra Leone and Francophone countries.

App available for download

The application is now available for download on Apple Store and Google Play.

By transitioning away from cash, small business owners can avoid storing large amounts of cash, drive customers’ adoption and boost access to formal saving and loan products which can expand their economic potential.

This will especially improve the lives of women, who represent many of the small retailers in the FMCG sector.

The Ezipay App has the tremendous potential to cause a shift to digital payments in this value chain system in the country.

Mr Amit Gaur therefore entreats the general public as well as the Ghanaians in abroad, to treat Ezipay as a national asset of Ghana as they continue to build and expand the operations across the globe.

By Masahudu Ankiilu Kunateh, African Eye Report

 

 

 

 

 

 

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