The Bank of Ghana has given Cross Switch Ghana L.T.D. permission to work as an Enhanced Payment Service Provider.
This is good news for Cross Switch Ghana L.T.D. and Cross Switch International S.A.R.LThe Bank of Ghana just gave Cross Switch Ghana L.T.D. permission to work as an Enhanced Payment Service Provider (E.P.S.P.).
As an E.P.S.P., Cross Switch Ghana plans to use its payments and technology infrastructure to digitize merchant payments, collections, and payouts for e-commerce, remittances, and financial inclusion.
Switch Cross Ghana plans to use its payments and technology infrastructure to digitize merchant payments, collections, and payouts for e-commerce, remittances, and financial inclusion.
Ghana’s payments space has been growing since the Payment Systems, and Services Act (2019) and the National Payment Systems Strategic Plan (2019-2024) were put in place by the Bank of Ghana to create a regulatory environment that encourages efficient payments, improves financial inclusion, and boosts financial innovations.
There has been strong growth in both mobile money and other ways to pay at the same time. More and more merchants are looking for services like Cross Switch Ghana offers, which are new, reliable, and scalable. Our services will help merchants and partners connect with and reach a broader customer base with state-of-the-art services.
Mr. Saqib Nazir The C.E.O. of Cross Switch Ghana, Saqib Nazir, commented on the company’s progress toward E.P.S.P. status, saying, “Cross Switch Ghana, which is part of the Cross Switch Group of Companies, is excited about this next milestone in our journey. We’re excited to use the Group’s knowledge and expertise to come up with new ways to solve the problems that emerging markets face. We hope to make a big difference in the digital payments ecosystem in Africa, which will help the continent grow.
Tim Davis runs Cross Switch International S.A.R.L., a fintech company that focuses on Africa and has a lot of knowledge and experience managing payment systems in emerging markets.
It has made CS+ a state-of-the-art payment platform that is being used in Africa and other markets. Cross Switch has bought and set up a number of technology and payments companies in Africa.
Its technology works with all kinds of payment methods used in Africa. Making it possible for local and international merchants to send and receive the money within local markets, across Africa, and into and out of Africa. Cross Switch has set up and invested in businesses in Egypt, Benin, Kenya, Ghana, Nigeria, Morocco, and South Africa. It is increasing across Africa by starting new businesses, forming partnerships, and buying other companies, focusing on Western Africa.
Tim Davis, the C.E.O. of Cross Switch, said, “We have seen Cross Switch Ghana grow from a local fintech company to a licensed Enhanced PSP. Sharing the same set of values and the same goal: to make technology more accessible and drive social change across Africa. We think the company will do well in the fast-paced fintech space because it has a great team and has shown it can provide relevant services with added value.