Business News of Sunday, 16 December 2018Source: Jubilee House‘With Mobile Money Interoperability everyone on 'MoMo' practically has a bank account’ - BawumiaVice President, Dr. Mahamudu BawumiaThe completion of the Financial Inclusion Triangle means that practically, anyone with a mobile phone has access to banking services without necessarily walking into a bank to open an account, Vice President Mahamudu Bawumia has posited. There are currently 31 million registered Mobile Money accounts, according to the Ghana Interbank Payment and Settlement Systems Limited (GhIPPS). “If you could take the mobile phone with a mobile wallet, be able to make it interoperable with a bank account, so that you can move money between your mobile phone and a bank account, from a bank account to your mobile wallet, from your bank account to the ezwich account, from the ezwich account to your mobile wallet… it means that today if you have a mobile account you practically have a bank account because you can move money and pay your taxes, pay your passport fee, pay your for your DVLA charges just from your mobile wallet into the bank account of government. The Vice President, who was speaking at the 10th Congregation of the Pentecost University College, Accra, continued: “Government can also transfer money to you through your mobile account even if you don't have a bank account. You can use your mobile account, your bank account or your ezwich card.

Source: GhanaWeb December 16, 2018 10:52 UTC