Mobile phone cements position as payment king


Mobile phone cements position as payment king

…as other forms of financial service delivery lag behind

 The mobile phone, with every recent report, continues to cement its position as the platform on which financial services or payments are delivered through - as evidenced in the latest Payment Systems Oversight Annual Report, 2018, released this week by the Bank of Ghana (BoG).


The report shows that with the astronomical growth in mobile money transactions and mobile banking services in both volume and value, while other payment platforms such as cheques, cards and Internet banking over laptops and desktops either saw declines in volume or value, or both, or at best grew marginally.


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