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Ghana

GhIPSS Instant Pay (GIP)

Scheme name: GhIPSS Instant Pay (GIP)

IIPS Type: Bank

Inclusivity level: Progressed

Year of establishment: 2015

System owner: Bank of Ghana

Overseer: Bank of Ghana

Operator: GhIPSS

Total Participants: 52

Volumes 2022: 76,483,008

Values 2022: 4,921,361,258 USD

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CategoryGhIPSS Instant Pay (GIP)
Geographic reachDomestic
Geographic descriptionGhana
Scheme governanceGhIPSS
Settlement agentBank of Ghana
Participants - commercial banks23
Participants - MMOs7
Participants - non-bank PSPs22
Participants - MFIs0
Volumes 2018144,000
Volumes 20191,900,000
Volumes 20206,804,754
Volumes 202137,672,319
Values 201867,609,464 USD
Values 2019437,642,274 USD
Values 2020766,882,420 USD
Values 20212,629,066,336 USD
GNI75,637,343,975
GNI (%)7%
% off-us transactions
Interoperability arrangementThird party
Ownership modelRegulator-owned
Governance TypologyCentral bank
Messaging standardISO 20022
Types of proxy IDsMobile number; QR code
Use of open APIsYes
QR code standard N/A
Pro-poor governanceYes
CB governance involvementYes
Expanded use CasesYes
Minimum channel functionalityYes
Minimum use case functionalityYes
All licensed PSPs can participate (all-to-all interoperability)Yes
RecourseNo
Not-for-lossYes
TSP partners N/A
Start-up funding (US$ million) N/A

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