Home Business Zeepay gets to start with non-bank institution to secure cell dollars license

Zeepay gets to start with non-bank institution to secure cell dollars license


Zeepay has been granted a license to run a total Electronic Cash Issuer provider if not acknowledged as Cellular Funds by the Bank of Ghana.

Zeepay is a foremost African fintech huge that operates as a cellular monetary products and services corporation from Ghana, covering an further 20 other African marketplaces and nevertheless increasing,

The company will allow
Zeepay’s subscribers to operate the total bouquet of cell money products and services these types of
as Cash In, Dollars Out, Peer-to-Peer (P2P) Transfers, Payments and Electronic
Termination of Remittances (DTR).

What this implies is that Zeepay customers can now mail and receive money throughout in excess of 150,000 agent network offered and also carry out other associated services out of Zeepay’s total bouquet this kind of as – remittances, micro insurance plan, car insurance plan, house loan remit, airtime top-up, bill payment and pension collections all in partnership with third parties – this sort of as coverage companies, banking institutions, and pension trustees among others.

Chairman of the Board,
Paa Kwasi Yankey described that the new Digital Dollars Issuer (EMI) license
will help Zeepay to increase its latest services in just the Mobile Fiscal
Providers Marketplace.

He reiterated that Lender of Ghana’s acceptance is a historic landmark, thinking of that Zeepay is the initial Non-Lender Fiscal Products and services to be so issued. He even more intimated this is also a testament of the President Akuffo-Addo led administration’s commitment to empowering Ghanaians and start out-ups.

“I am enthusiastic and think
that this landmark approval will open up doors for Zeepay throughout the African
continent – the place we have considerable operations in nations this kind of as Uganda,
Mozambique, Nigeria, Zimbabwe, Cameroun, Ivory Coast, Guinea amongst many others.”

Andrew Takyi-Appiah,
Handling Director noted that since 2014 when Zeepay embarked on this journey,
the corporation has never ever stopped to innovate- from remaining the 1st to introduce
Tap & Fork out expert services to mobile cash, PoS buying for cellular funds wallets
and electronic termination of remittances to cellular wallets.

“We are deeply humbled
and grateful to the Bank of Ghana for this approval. Specially to the
Management of Financial institution of Ghana. We will like to specific our gratitude to our
shareholders Kwame Achampong-Kyei, Zoe Phillips, Paa Kwasi Yankey and Aaron
Sackey for all their relentless help and our associates the likes of
MoneyGram, Tiny Earth, Thunes, RIA, DMA Consulting, Barclays Bank, GTBank,
Entry Lender, ADB bank, FAB Lender, Bank of Africa and all our Board members
like John Gely and Patrick of MoneyGram, Natasha and Nick Working day of Compact
Globe and Robert Kotei of RIA and AB, Sandra Yao and Djibril and some others for
believing in us.”

Mr Takyi-Appiah even more mentioned that “Central Banking companies in Africa should really observe the direct of Ghana and go a phase more to figure out these kinds of approvals in their markets by means of Passporting like it’s finished in Europe. Wherever Zeepay is controlled throughout all 28 countries by means of similar Passporting preparations from the United Kingdom.”

“The approval will enable Zeepay increase previous-mile access to monetary services for more than 20million Ghanaians even though presenting protection, usefulness and important charge financial savings. We look forward to interesting situations in advance, where in partnership with banking institutions, insurance companies, fintechs’, software assistance vendors and pension fund managers amongst many others, we give cellular financial companies products and solutions to our big pull of around 2million buyers throughout Ghana.”

Head of Industrial at Zeepay, Dede Quarshie, even further expressed the company’s gratitude and profound appreciation to the central financial institution and the payment units group for their great assistance.

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