G-Money, GCB Bank Ghana Limited’s mobile money service has launched ‘Nexus,’ an open Application Programming Interface (API) system to onboard third-party Financial Technology (FinTech) partners.
With the API, G-Money partners are now able to perform disbursements, collections and Bill Payments including the payment of school fees and utility bills.
Additionally, partners will be able to issue USSD Vouchers, Static and Dynamic (Quick Record (QR) payments for customers on-boarding.
The API launch which was held virtually at a webinar allows other financial technology services and payment processors to run the G-Money service on their individual service platforms.
Participants at the webinar were taken through a tutorial session on how to use the API to perform transactions.
Speaking at the launch, Head of Mobile Financial Services of GCB Bank Ltd, Mr. Carl Ashie, said the new services and features would provide more convenience to G-Money customers.
He explained that “All prospective partners who want to have access to the API are required to present a license from Bank of Ghana, a GCB Bank account, a cover letter containing a formal request and a one-page proposal stating the channels which will be used and the services they intend to run.”
In his closing remarks, Head of Operations for GCB Bank, Mr. Charles Crabbe, thanked all the FinTech participants and reiterated the Bank’s commitment to assist all partners to become fully integrated unto the service.
“G-Money is the most exciting platform ever produced in our quest to increase GCB’s digital portfolio and the Bank is fully supportive of this service. We will make sure that every resource that is required to give you the best service is made available,” he assured.
Mr. Crabbe said GCB as a bank offers a wide range of financial services and that it was was working to expand partnerships to ensure that all customers could access their bank accounts remotely and on their phones.
G-Money is a mobile money service which allows both customers and non-customers of GCB Bank to store money- in the form of electronic value- on their phones to perform transactions. This service is an integral part of GCB Bank’s commitment to drive financial inclusion as part of its strategic objectives. The Bank uses G-Money to run a unique convergence point between banking and telecommunication networks using its interoperability service and we believe this offer will benefit all stakeholders and drive growth in the economy.
Source: BusinessZone Online