He said the payment followed the introduction of new guidelines on Dedicated Electronic Money Issuers (DEMI) from the Central Bank, which directs banks to pay interest on floats from mobile money platforms to telecom companies, out of which 80 payments is mandated as interest payment to mobile money customers.

He said Vodafone cash had witnessed a 75 per cent increase in the third quarter (Q3) payments over second quarter ( Q2 ) a development which reflects the significance of the trust reposed in the company by customers who have increased their deposits and transactions.

Mr. Obeng-Agyei said Vodafone cash said had helped in attracting the unbanked to be part of the financial sector.

“What we have seen in less than a year of operating the mobile money service is proof of its power to transform the entire country. We want to be integral in the promotion of a cash-lite society in Ghana and bridge the gap between the included and excluded in our society,” he stated in a statement issued in Accra yesterday.

He said Vodafone Ghana was excited about the rate of progression of its mobile money platform –Vodafone Cash introduced in December last year.

“With a few services on the platform at the time of commencement, Vodafone Cash now boasts of services such as ATM-cardless withdrawals, TV license payments, bulk payment services and insurance for fisher folks,” he stressed.

By Times Reporter