Ghana’s new Ghana Interbank Payments and Settlements Systems (GhIPSS) CEO, Clara Arthur, says the country is on track to reach the matured inclusivity stage of instant payments next year, a benchmark that demands expanded use cases, affordability, and, critically, a reliable and fast dispute-resolution system.
She made the commitment during a panel session at the launch of the State of Inclusive Instant Payment Systems (SIIPS) Africa 2025 Report. The event highlighted Nigeria as the only African country to have reached the matured stage after rolling out a formal dispute-resolution structure through its InterBank Settlement Systems (NIBSS).
Ghana, which was first to attain the progressed stage in 2022, has remained stuck there because the system still lacks clear regulatory standards for resolving customer complaints swiftly.
Clara Arthur acknowledged the achievements of her predecessors but stressed that the final hurdle must now be cleared. She said Ghana’s instant payment infrastructure, including GhIPSS Instant Pay (GIP) and Mobile Money Interoperability (MMI), already offers broad use cases and remains affordable, with transfers free for users due to how the switch is funded. But without a dependable dispute-resolution mechanism, the system cannot be classified as fully inclusive.
Speaking to Techfocus24, she outlined the major technical shift required to elevate the country’s payment ecosystem: migration from the current ISO 8583 messaging standard to the more advanced ISO 20022 model.
ISO 20022 is the global benchmark for modern financial messaging. It provides richer, more structured data, supports open APIs, and enables seamless connectivity across fintechs, banks, and switches. According to the GhIPSS boss, adopting this standard is essential for innovation, interoperability, and providing the foundation needed for the fastest and most transparent dispute processes.
She said transitioning Ghana’s real-time payment rails to ISO 20022 is part of her immediate strategy as CEO, adding that the change will unlock new use cases and create a unified ecosystem capable of meeting future demands.
On dispute resolution, Clara Arthur explained that the current process, where customers lodge complaints with their service provider before escalating to the Bank of Ghana after 10 to 15 days, is too slow for an economy pushing digital payments. She said GhIPSS will work with the central bank on clearer guidelines, strict deadlines, and enforcement measures to protect public trust, warning that any service provider that fails to resolve issues within the required period would face consequences.
She also urged consumers to familiarize themselves with the recourse mechanisms of any digital financial service they use, emphasising that users should not wait until there is a problem before seeking information about their rights.
With Ghana positioning itself as a continental force in digital payments, Clara Arthur believes fixing the technical gaps and strengthening customer protection will push the nation into the top tier of inclusive instant payment systems by next year.
