“PeoplesPay” launched to revolutionise digital payments in Ghana

A new payments solution has been launched in Ghana and this one, unlike most of the several digital payments solutions that have gone on offer since the beginning of the country’s digital payment’s revolution a few years ago, offers completely new applications not available any where else.

The new platform is called PeoplesPay launched under QR based payments. The new platform was developed by Bsystems; one of the most successful software and financial technology firms in Ghana

The initial response from the market in Ghana suggests the app it will be as successful in this country.

Most importantly PeoplesPay has the capacity to aggregate its users various electronic wallets into one app. Thus, for instance, a customer who has several mobile money accounts does not need to lug several phones around to execute transactions; all the accounts can be loaded onto the PeoplesPay App installed in one phone.

Another novelty is that customers can purchase cards for I-tunes, Netflix, Play station and other such games, through the app, some of these being available for direct purchase in Ghana for the very first time through Peoples Pay.

Another key function is that through a collaboration with Ecobank Ghana, one can be issued an instant Visa Card online using the app.

Ecobank’s instant Visa Card, issued online has been an immediate success in Ghana and now, through PeoplesPay even customers that do not actually have an account with that bank can be issued with these cards, albeit subject to Ecobank’s “know your customer criteria.”

Beyond all these PeoplesPay runs a complete suite of digital payments functions. One can send money to or from anywhere in the world, make and receive payments on the GhQR platform for merchant sales and purchases and top up mobile phone credit.

It can also be used for paying electricity and water bills, DSTV bills and school fees for a rapidly growing number of schools that have signed up to the new app.

Importantly though PeoplesPay is not actually a mobile wallet; while it can be used to execute financial transactions (including referrals ie transactions that failed when attempted by the customers regular payments platform) money cannot be loaded onto it as Bsystems is not licensed as a deposit taker.

This though takes nothing away from its efficacy since the app is linked to the customers bank accounts, thereby giving them immediate seamless access to their funds anywhere they are at any time of the day or night.

PeoplesPay can be downloaded onto ones phone or laptop computer.

More applications are on the way; the one with the biggest potential impact will be its integration with the payments platform adopted by the African Continental Free Trade Agreement (AfCFTA) expectedly next year, which will facilitate merchant payments across West and East Africa first and eventually the rest of the continent.

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