The Managing Director and CEO of Zenith Bank Henry Oroh has reiterated the bank’s commitment to supporting the Bank of Ghana(BoG) to promote a cash-lite economy in Ghana.
According to him, a lot of progress has been made in the promotion of a cashless economy, but more needs to be done.
Available data from the Ghana Interbank Payment and Settlement Systems (GhiPSS) shows that there is an increasing shift from the use of cheques and cash to electronic payments channels.
In an attempt to support the growth of the cashless system, Zenith Bank Ghana has launched an awareness creation campaign dubbed the “Go Lite with Zenith Bank” Campaign.
Mr.Oroh explained that the campaign is targeted at promoting less use of cash.
“The “Go Lite with Zenith Bank” Campaign, is aimed at raising awareness of the bank’s digital products and services that make banking faster, smarter, safer, and more convenient for our customers, as well as promoting the government’s agenda of a cash-lite economy.”
Touching on the benefits that can be derived from a cash-lite system, Mr. Oroh said Zenith Bank was committed to delivering such safe and reliable e-transactions for both individuals and corporations.
“More businesses are moving towards a cashless environment to be able to centrally initiate and control all payments electronically to substantially reduce the risk of fraud and theft to which entrepreneurs are exposed. Bundling electronic payments information and software creates opportunities for businesses to streamline and automate processes relating to procurement, inventory management, and payment collections. This can serve as a driver for accelerated business innovation.”
Despite the progress with the adoptions of digital financial solutions the Head of Payment System at the Bank of Ghana (BoG), Dr Settor Amediku stressed the need for financial institutions to do more to increase the adoption rate of new solutions.
“We have witnessed from the Central Bank point of view the zeal and enthusiasm coming from banks, mobile money operators and others to introduce different forms of services, but we are concerned about the awareness of such services. So we have discussed the possibility of bringing all stakeholders and service providers to showcase their solutions to Ghanaians. We want the banks to make the products we approve for them available to the populace.”
Products under the “Go Lite With Zenith Bank” Campaign
The campaign which is expected to run for the rest of the year will see Zenith Bank raising awareness about products and services like GlobalPay, Scan To Pay, Internet Banking, mobile money Bank2wallet, ZMobile and one of the widest variety of cards; including the bank’s Proprietary cards, E-zwich, Visa and Mastercard, Salary Payment Solutions, Platinum Products, Dollar denominated Global Travel Wallets as well as Prepaid/Debit cards for all of Zenith Bank’s customers.