About
GhIPSS Instant Pay (GIP) is Ghana's real-time account-to-account transfer rail, launched in 2015 by Ghana Interbank Payment and Settlement Systems Ltd (GhIPSS), a wholly owned subsidiary of the Bank of Ghana. Customers send money from their bank's app, USSD, internet banking, branch, ATM or POS, and it reaches the recipient's account at another institution in real time, 24/7. Banks settle between themselves later on a deferred basis, and single transfers are capped at GHC 50,000. GIP handles bank-to-bank payments, while wallet-to-wallet transfers run on GhIPSS's separate Mobile Money Interoperability service. GIP value rose to GHC 47.5 billion in 2024, from GHC 14.3 billion in 2023.
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