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Mobile Money Interoperability Phase II rolls out Nov 28

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Phase two of the Mobile Money Interoperability is expected to be rolled out on Wednesday November 28.

Vice President Dr. Mahamudu Bawumia launched the first phase in May this year.

It system allowed mobile customers to move money from their mobile money accounts to bank accounts and vice versa.

The system, among other things saw the elimination of complexities associated with transfers across the mobile money networks in Ghana.

It also saw the reduction in cost of initiating transactions across networks, as customers no longer need the services of a third-party payment provider.

The second phase however will see connection between mobile money and the e-zwich system.

The Ghana Interbank Payment and Settlement Systems Limited was tasked to lead the project, together with three mobile Money Operators; MTN, Vodafone, Airtel /Tigo and other Financial Institutions.

Minister of Information Kojo Oppong Nkrumah announced this at a media briefing in Accra.

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