Business News of Thursday, 28 November 2019Source: citibusinessnews.comBoG directs fintechs and MoMo operators to acquire license by June 2020Head of Payment Systems Department at the Bank of Ghana, Dr. Settor Amediku. The Bank of Ghana has said companies engaged in online or digital transactions including Mobile Money Operators and fintechs, have up to June 2020 to acquire their licenses to enable them operate in the electronic payment space. The acquisition of the license by these companies is one of the requirements in the Payment Systems and Services, 2019 (987Act). The Act was passed in March this year, to ensure effective monitoring and regulation of digital transactions following an increase in such services. The Bank of Ghana has therefore stepped up the monitoring of digital transactions with the introduction of a database called the Visor.

Source: GhanaWeb November 28, 2019 06:00 UTC