Mr. Claud Hutchful, CEO of DreamOval Limited, has said that for the Ghanaian payment ecosystem to be properly integrated into customers’ behaviours, there needs to be continuous collaboration to mold the e-Payments space. “Until customer journeys are completely seamless, all of us in the Ghanaian payments ecosystem have a lot more work to do.”
His remarks were made in a panel discussion with Nana Kow Bediako-Dadson, Manager, Merchant Solutions, Stanbic Bank, and Sylvia Acheampong, Innovations and Business Development, MTN at the recent National e-Commerce Forum and Exhibition, organised by GIZ Ghana and the Pan-African E-Commerce Initiative.
The forum sought to explore the changing landscape of e-Payments in the country, and provide an understanding of how to move the ecosystem forward.
Mr. Hutchful mentioned that players had a responsibility to ensure that the customer was at the centre of the ecosystem. “We’re seeing more and more mobile penetration in Ghana, we’re seeing data that indicates the mobile phone is now at the centre of most Omni channel behaviour. For payments, this means understanding how we can all ensure that transacting via mobile is as frictionless as possible, no matter the parties involved.”
The panelists discussed the evolution of e-Payments processes in Ghana and what the possibilities for the future could look like. Coming on the back of the communication minister’s comments about having home-grown payment options that reduced the reliance on foreign providers, it was a necessary and timely conversation.
Fintechs, like DreamOval, are in a position to enhance the customer experience in terms of access to digital payments. The company, which already powers many of Ghana’s banks with its robust technology platform, takes a key interest in growing revenue for businesses by connecting a customer’s ability to pay a merchant to a frictionless experience. In his closing remarks, Mr. Hutchful said: “All of us here have a significant role to play in ensuring that we grow the digital payments ecosystem. Collaboration is key. It determines the future”.
The forum also had an exhibition which showcased businesses that depended on revenue from e-Payments. These small businesses ranged from African print shops to local food businesses and book stores, reinforcing the fact that access to seamless payment options is key to the future of commerce.