5 Interesting Facts: Online Payments in Ghana

Making Online payments in Ghana???

Ghana has come a long way in the digital and FinTech world and has had a lot of companies spring up these days promising to make offer online payment systems or online payment integrations.

Honestly there are quite a number of companies out there that offer intermediary services that would aid people in Ghana to make payments the digital way.

Some of these companies include Express Pay, Palm Pay, Chipper Cash, BitSika and so one.

How are online payments done in Ghana

These types of FinTech companies help make payments for utility bills much more easier and convenient for people since it eliminates the whole process of being present in a physical structure or building to make payments.

With these types of services people will have to download these FinTech apps, sign up and top up their accounts with mostly their mobile money balance so they can begin to make payments to their favourite subscription services and utility bill payments.

All of these FinTech apps work mostly when users deposit or top up their account via mobile money.

Users can however top up their mobile money accounts mostly with the help of mobile money merchants. Now some banks give their customers the option to deposit money or top up their mobile money accounts directly from their bank account.

From all that it stated above, all these types of services are centred around mobile money.

Mobile Money VS Online payments in Ghana

Mobile money since its inception in Ghana has proven to become a good thing with some people preferring it’s usage over the traditional banking system.

For instance, some traders will prefer to up their mobile money accounts with a greater percentage of whatever sales they made during the day.

So they can withdraw the money at their convenience since there are a lot of mobile money venders or merchants around.

These mobile money companies are owned by the Telecommunication networks and that makes them trust worthy as well since they have to go through strict regulations to be able to operate both as a telecommunications company and a “bank”.

These telecommunications companies charge a certain fee most of the time when their service is used especially when users send money to other people.

What’s happening in other parts of the world- online payments

In other parts of the world such as in the UK, Telecommunications Companies do not serve as “banks” as well unlike what is happening in African countries such as Ghana.

To make online payments in the UK for instance all that is required is a bank card or debit card.

There is no intermediary service or app that will aid in such online payments.

One may argue that there are services such as PayPal that can aid in those kinds of services. But that’s a different story for another day…

The point here is that in countries such as the UK, people consider their bank cards first when they have to make any form of online payments.

Whereas in some African countries like Ghana, most people think of mobile money payments when it comes to making online payments.

Most e-commerce sites even have a mobile money payment option for their customers as a means of taking online payments.

This shows the power mobile money payments have in Ghana over any form for online payments. 

The Rise of Mobile Money Payments in Ghana

Ghanaians have been using mobile money payment services for more that a decade to send money and pay for their transactions.

Ghanaians like most Africans have grown to accept mobile money payments and to be honest there are people who will choose mobile money over owning a bank account.

Did the introduction of mobile money reveal the weakness in our Banking system?

Some people will agree that the quick acceptance of mobile money payments by most people in Ghana meant the traditional banking system was not up to speed with the latest trends in the world.

There was the need for people to be able to have access to their money when ever they needed it, there was also the need for people to be able to send money to their friends, relatives send workers without going to queue up in the bank.

There were also some people who did not own any bank account at all and there were faced with some challenges whenever the needed to mostly receive money from their friends, relatives and loved ones.

If the traditional banking system had been able to identify these problems and found an easier and a more convenient method of sending and receiving money about a decade a ago, maybe our famous mobile money would not have be that successful.

This would have meant there would not have been the presence of mobile money vendors or merchants and some of these FinTech apps that serve as a virtual mobile money merchant or vender.

That would have meant that people working as mobile money vendors or merchants would not be in their present filed of work.

Maybe if the traditional banking system had filled that gap, there would not have been a rise of mobile money scammers as well.


What ever the case maybe, mobile money have proven to be a better solution and has indirectly helped entrepreneurs to set up their mobile money vendor or merchant business. Entrepreneurs and developers should think of and consider a way to integrate or combine the traditional mobile money payments with online payments

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