BUSINESS

Central Bank issues guidelines for domestic processing of card transactions

The Bank of Ghana has issued a set of guidelines and objectives for the domestic processing of payment card transactions in the country.

Central Bank issues guidelines for domestic processing of card transactions

• The Bank of Ghana has issued a set of guidelines for domestic processing of card transactions

• The move is intended to regulate the processing of payment card transactions in Ghana

• It will apply to International Card Schemes, Enhanced Payment Service Providers (EPSP) and others

The Bank of Ghana has issued a set of guidelines and objectives for the domestic processing of payment card transactions in the country.

READ ALSO: FULL TEXT: BoG Governor’s remarks at the inauguration of central bank board

According to a statement issued by the central bank, the move is under Section 4(e) of the Bank of Ghana Act, 2002 (Act 612) as amended and Section 101(2) of the Payment Systems and Services Act, 2019 (Act 987) to regulate the processing of payment card transactions in Ghana.

It further explained the objectives of the guidelines are to provide a framework meant for licensing and payment of cards processing.

The move, the central bank added, is intended to offer an enabling environment for payment card processing and usage in the country.

The guidelines will however apply to International Card Schemes, Enhanced Payment Service Providers (EPSP) and others.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: freedomradiogh.com

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