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Ghana
GhIPSS Instant Pay (GIP)
Scheme name: GhIPSS Instant Pay (GIP)
IIPS Type: Bank
Instruments: Credit EFT, Debit EFT
Channels: Branch, USSD, App, Browser, QR
Use cases: Transfers & remittances (P2P), Merchant payments (P2B), Bill payments (P2B/P2G), Social disbursements (G2P), Inventory & business services (B2B), Salaries & wages (B2P)
Inclusivity level: Progressed
Year of establishment: 2015
System owner: GhIPSS (owned by Bank of Ghana)
Overseer: Bank of Ghana
Operator: GhIPSS
Total Participants: 50
Volumes 2023: 115,368,700
Values 2023: 8,847,821,923 USD
Back to map| Category | GhIPSS Instant Pay (GIP) |
|---|---|
| Geographic reach | Domestic |
| Geographic description | Ghana |
| Scheme governance | GhIPSS |
| Settlement agent | Bank of Ghana |
| Participants - commercial banks | 24 |
| Participants - MMOs | 0 |
| Participants - non-bank PSPs | 26 |
| Participants - MFIs | 0 |
| Volumes 2019 | 1,822,295 |
| Volumes 2020 | 6,809,958 |
| Volumes 2021 | 37,672,319 |
| US$ Exchange Rate 30 April | 13.5739 |
| Values 2019 | 133,107,973 USD |
| Values 2020 | 673,947,150 USD |
| Values 2021 | 2,310,124,895 USD |
| Values 2022 | 4,324,333,240 USD |
| Values 2023 not-on-us transactions (US$) | 8,847,821,923 USD |
| Values 2023 on-us transactions (US$) | N/A |
| Total value of instant payment transactions 2023 (US$) | 8,847,821,923 USD |
| Interoperability arrangement | Payment system operator |
| Ownership model | Regulator-owned |
| Governance Typology | Central bank |
| Scheme rules shared or publically available? | No |
| Messaging standard | ISO 8583; Proprietary |
| Types of proxy IDs | Mobile phone number; QR code |
| Use of open APIs | Yes |
| QR code standard | N/A |
| Pro-poor governance | Yes |
| CB governance involvement | Yes |
| Expanded use Cases | No |
| Minimum channel functionality | Yes |
| Minimum use case functionality | Yes |
| All licensed PSPs can participate (all-to-all interoperability) | Yes |
| Recourse | No |
| Not-for-loss | Yes |
| Status | Reached progressed level, potential for mature level |
| Strengths/drivers | Fulfilment of progressed criteria as well as a already fulfilling the not-for-loss business model provides a good base to reach mature level. |
| Areas of development | Areas of development include expanding further use cases (P2G), as well as consumer recourse requirements, to fulfill mature level. |
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