Money Transfer in Ghana Case Study

BICT LEVEL 300 MIS ASSIGNMENT JOHN NII ARMAH HAMMOND POSTINO DUGLE 20081462 20081467 MOBILE MONEY tape drive IN GHANA, CHALLENGES AND ECONOMIC BENNEFITS INTRODUCTION The introduction of mobile currency service is taking place in isolation precisely in parallel with the advent and expansion of other pecuniary electronic payments service. One of these is E-Zwich, an electronic platform that enables the loading and disbursal of electronic cash and also allows the settlement of inter-bank claims in addendum to online transactions. Others are being made available over the net and through SMS-text messages. The government regards these services as banking. They are stringently regulated and licensed by the Central Bank- Bank of gold coast under its branchless banking policy. Both MTN and ZAIN SIM cards are enabled to go for the service but each new subscriber needs to register for the service at before it is activated. Upon activation, the user is provided with a secure electronic bag where funds can be disbursed or uploaded. The users can either exchange electronic gold for physical cash (cash out) at shops, partner banks and accredited agents or make use of it in making purchases or transfers.

enable a Cash Flow to Rural Areas In general, the to the highest degree popular mobile gold service is money transfer. The fashion is for users in urban areas to transfer funds to recipients in unsophisticated areas. Traditionally in Ghana, city dwellers often manoeuver money to members of their extended family living in rural areas. Other ordinary services include the purchase of mobile phone airtime, goods and services through electronic transfer of money from users wallet to the merchants account. Commenting on money transfer via mobile phones, Carl NiikoiAshie, an mcommerce (mobile commerce) specialist at Zain who works on ZAP, said: The customers can cash in by loading money onto their ZAP wallet, then send the money to someone else on their phone in a simple process. The person... If you want to get a full essay, set it on our website: Ordercustompaper.com

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