Mobile Money Interoperability (MMI) recorded more than 4.4 million transactions in its first year of operation. Beginning with just 96,907 transactions in its first month, public usage of the cross network platform grew phenomenally to 422,275 transactions in December last year and 502,873 transactions in May this year. MMI or seamless cross mobile money network transactions became possible in May last year, following a challenge thrown to the Ghana Interbank Payment and Settlement System (GhIPSS), the Telcos and financial institutions by the Vice President, Dr. Mahamudu Bawumia. The Chief Executive Officer of GhIPSS, Archie Hesse in an interview described the MMI initiative as successful. He said it has provided a very efficient way of funds transfer for many people, opening up the mobile money payment platform, enabling people and businesses to use it in different ways. Before MMI came into being, cross network transactions through the ‘token’ system was hovering around 90,000 t...
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