According to him, the service was designed to give the user maximum utility.

GhanaPay is similar to mobile money, but it has additional features, and it is a shared service offered by universal banks, rural banks, and savings and loans companies to individuals and businesses.

Vice-President Bawumia launched the service in the middle of June but has witnessed significant uptake by the public.

GhIPSS, together with the partner financial institutions, has embarked on some activities to create awareness and drive patronage for the service.

Speaking in an interview, the Chief Executive of GhIPSS Archie Hesse said that GhanaPay had augmented services, adding that those who had signed onto it have found it very useful. 

Mr Hesse explained that the addition of GhanaPay to existing electronic payment services is part of efforts to deepen the use of electronic payment channels and reduce cash transactions.

He said GhIPSS and the financial institutions would continue to roll out some activities across the country to educate the public and promote the use of the service.

Users of GhanaPay, can perform several transactions including cash-in and cash-out, as well as pay bills, pay GhQR merchants, and buy airtime and data.  The service can also be used to request a statement, make a complaint or send feedback.

Mr Hesse said other enhanced services will be added to meet the changing needs of the banking public. 

He stressed that GhanaPay was remarkably different and urged financial institutions to find innovative ways to inform the public about the need to enjoy the GhanaPay experience.