Ghanaian banks are dreading the implication of having a common platform that will allow banks to use their traditional ATMs to transact business in other ATMs other than theirs.

From January 2012, bank customers would not need a Visa card before they can access money from a bank other than theirs.

This follows the completion of the installation of a complementary Switch by the Ghana Interbank Payment and Settlement System (GHIPSS).

Even though the move will reduce the cost of the banks, there are concerns it could affect the revenues from charges on ATM card usage on other ATM machines other than theirs.

 

The banks are expected to connect to the common platform next year but there are apprehensions.

The CEO of Zenith Bank, Daniel Asiedu, who shared his views with Citi Business News said banks were left with little options other than to comply with the regulations of the new system.

“This is a system being driven by GHIPSS and we are playing along; we don’t have a choice so we will encourage,” Asiedu said.

“Let me continue to remind you that we are also a business, having a common platform will reduce my cost so if I think it is to my advantage, I will roll with it. We are viewing it purely from that perspective,” he added.


By: Citifmonline. com

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