Mobile money has strengthened its dominance in the local payments ecosystem, with registered accounts surpassing 77 million and transaction values hitting GH¢2.76trillion between beginning of the year and August 2025, according to the Bank of Ghana’s latest Summary of Economic and Financial Data.
Registered mobile money accounts rose from 70.5 million in August 2024 to 77.7 million a year later. Active accounts, defined as those that transacted at least once in the previous 90 days, increased from 22.8 million to 25.1 million. Monthly mobile money transactions climbed from 724 million to 831 million over the same period, with values rising from GH¢273.6billion to GH¢354.1billion. Balances held on float – the trust accounts backing electronic value in circulation – expanded from GH¢22.2billion to GH¢28.4billion.
The agent network also expanded, with registered agents growing from 863,000 to 938,000. Active agents fluctuated, falling to 404,000 in October 2024 before recovering to 433,000 by August 2025.
Mobile money interoperability, which enables transfers across networks and between bank accounts and wallets, recorded significant gains with transaction values nearly doubling from GH¢2.5billion to GH¢4.9billion while the number of transactions increased from 18.4 million to 26.4 million.
Other payment systems
Cheque usage remained broadly flat, with values clearing GH¢33billion in August 2025 compared with GH¢30.2billion a year earlier. Volumes stayed at around 400,000 to 500,000 transactions per month.
Automated Clearing House (ACH) services showed divergent trends, with direct debits falling from GH¢237.9 million in August 2024 to GH¢252million in August 2025 while transaction counts dropped from 64,000 to 46,000. Direct credits rose in value from GH¢9billion to GH¢10.7billion, with transaction volumes holding steady at about 800,000.
E-zwich – the biometric smartcard platform – recorded little change in enrolment, which remained at 4.3 million. Transaction values increased slightly from GH¢3.9billion to GH¢4.4billion, though monthly transaction counts were highly variable.
Gh-link, the domestic card switch, declined in use. Transaction values dropped from GH¢71.3million in August 2024 to GH¢63.7million for August 2025, with volumes stable at about 70,000 per month – albeit falling from 87,000 a year ago.
Ghipss Instant Pay (GIP) emerged as the fastest-growing digital channel after mobile money as this segment saw its transaction values rise from GH¢39.2billion in August 2024 to GH¢58.9billion in August 2025, while volumes grew from 14.4 million to 17.6 million.
Infrastructure investment continued, with Point of Sale (POS) terminals increasing from 14,677 to 16,952. Automated Teller Machines (ATMs) remained at about 2,270 units. Despite the wider availability of POS facilities, card usage weakened. Debit cards in circulation fell from 6.3 million to 5.2 million, prepaid cards from 561,000 to 422,000 and credit cards stayed flat at around 65,000.
Internet banking showed strong growth. Transaction values nearly doubled, rising from GH¢15.3billion to GH¢30billion over the year. Volumes also climbed, from 2.35 million to 4.7 million per month – reflecting broader adoption of online platforms.
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