Visa pushes for broader contactless payment adoption

Visa Ghana is intensifying efforts to increase the adoption of contactless payments by recently organising a one-day industry workshop focused on raising awareness and addressing challenges in the country’s digital payments ecosystem.

The workshop, themed “Securing the Future of Payments through Acceptance,” brought together key players in the sector to explore ways to advance financial inclusion through contactless technology, improve payment security, and boost adoption rates. Fabrice Konan, Visa Ghana’s Country Director, highlighted that while contactless payments are gaining ground globally, Ghana lags behind.

“Ghanaians are quick to embrace contactless payments when they travel abroad, with one in two transactions abroad being contactless,” Mr. Konan explained.

However, he noted that domestically, the situation is quite different, with only about 10% of transactions in Ghana being contactless. “In markets like South Africa and Mauritius, contactless penetration rates are close to 60%, which shows we have a lot of catching up to do.”

Mr. Konan attributed the low adoption rate to entrenched consumer preferences, stating, “It’s not that Ghanaians aren’t aware of the technology; it’s more about changing habits. Many consumers are still comfortable with traditional card payments or mobile money.”

Despite these challenges, Mr. Konan believes the technology offers a superior experience. “Contactless payments are faster, more secure, and just as convenient as other methods. The key is to help consumers understand these benefits,” he added. He emphasized that Visa cannot drive this change alone, urging the entire digital payments ecosystem to collaborate in promoting the technology.

“It’s essential for us to work together—banks, merchants, and other stakeholders—to make the right decisions that will accelerate the adoption of contactless payments,” he remarked during the event.

Visa Ghana also shared insights into contactless payment technologies, providing business stakeholders with tools to help implement best practices. Attendees received updates on Visa’s Risk and Compliance programs aimed at mitigating non-compliance risks and promoting security.

Despite the slow pace of adoption, Konan expressed optimism. “We’re confident that contactless payments will drive greater convenience and performance in Ghana,” he said. “With the right strategies and collaboration across the ecosystem, we believe we can significantly boost contactless payment adoption in the coming years.”

Visa’s initiative aligns with its broader goal of fostering a cashless society in Ghana, providing industry leaders with the knowledge and resources to support the adoption of modern payment technologies.