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Ghana launches a world-first dual card to promote financial inclusion - BELT
32.9 C
Abuja
January 18, 2022
BELT
BELT News Finance Technology

Ghana launches a world-first dual card to promote financial inclusion

Ghanaian government’s agency responsible for interconnecting banks that operate in the country, GhIPSS, has launched the Gh Dual Card, a world-first dual-purpose card that can function as an E-ZWICH card and also as a GH-LINK card at that same time.
The GH Dual Card is a new financial services product that combines the GH-LINK card (a proprietary EMV card for bank account holders) and the E-ZWICH card for the unbanked.
While the E-ZWICH smart card allows a holder to carry out electronic transactions at any E-ZWICH Point of Sale (PoS) terminal or ATM, as well as access banking services at any bank throughout Ghana irrespective of whether that bank issued that smart card or not, the GH-LINK card has the widest acceptance network in Ghana with cardholders being able to use the GH Link Card at ATMs of member financial institutions, all banks, rural and community banks as well as savings and loans companies.
“It is the first time that any country in the world is issuing this combined EMV card and a financial inclusion card. It is remarkable and will further promote financial inclusion in Ghana,” says Mahamudu Bawumia, the country’s Vice President.
This new innovation is expected to create convenience for customers and reduce the cost of card production for financial institutions.

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