Financial institutions have been urged to boldly showcase ACH Direct Credit Near Real Time (NRT) services on their digital platforms to facilitate easy access for customers. Highlighting and appropriately labelling the NRT option, will raise awareness among customers about this payment service, encouraging its utilization.
Typically, banks list various digital channels on their internet and mobile banking platforms, attracting significant patronage due to their visibility to customers. GhIPSS officials suggest that incorporating the ACH Direct Credit Near Real Time into the roster of payment channels will boost its usage.
Ghana is distinguished for offering ACH Direct Credit Near Real Time, a payment channel that positions it ahead of many countries. This service enables businesses to credit beneficiaries’ bank accounts within fifteen (15) minutes of initiating fund transfers, setting it apart from the Standard Direct Credit (24 hours) and Express Direct Credit (4 hours) options.
Mary Dei Sarpong, Head of Bulk Payments & Customer Support, emphasized in an interview that, NRT empowers organisations and individuals to execute bulk payments round the clock, with recipients receiving funds within fifteen(15) minutes—an efficiency that can benefit numerous institutions. Mrs. Dei Sarpong encouraged banks to actively promote the NRT and attract as many institutions as possible to utilize the service for quick bulk payments.
Ghana’s payment landscape offers diverse options to cater to varying needs, including instant payment, near real time options, and slower alternatives like third-party cheques, which can take up to two days to clear. Mrs. Dei Sarpong stressed the importance for banks to make these payment channels visible on their platforms and devise innovative methods to educate the public about their availability. While GhIPSS does not directly offer these services to the public, it remains committed to raising awareness to assist individuals in selecting the most suitable payment option at any given time.
NRT provides a faster way of paying many people than any physical cash payment can ever achieve. The time to manoeuvre through traffic, the risk of carry large sums of money to pay different people, and the fights over payment reconciliation challenges, are completely taken away, with the use of NRT.
The service also comes in handy for businessmen and women as well as individuals who have to make urgent payment to suppliers while busy with other activities.
