Mr Daniel Asiedu, Managing Director of Zenith Bank Ghana Limited (ZBGL) on Thursday advised businesses to invest in technological innovations to facilitate online transactions to exceed the expectations of their customers.

He stressed that Ghanaians had no options than to invest in technology that would leapfrog them into socio-economic development and to be in step with the rest of the world.

Mr Asiedu gave the advice when he spoke to journalists at the end of the launch of Z-WEB Acquiring product in Accra, a platform that offers businesses the opportunity to receive payment online.

The launch was a collaboration between ZBGL and VISA, a global payments technology company.

“We have no option than to move ahead. This is because predictably within the next 20 years, the developed world would have progressed from online transactions to another innovative platform and we cannot afford to be left behind,” he cautioned.

Mr Asiedu said over the past decades, there had been giant strides in invention of innovative technology, which had significantly impacted on business operations and their interactions with customers and prospective clients.

“In our day, access to the internet has allowed business people to be productive no matter where they are. In addition, most business people now receive their corporate email instantly on devices such as BlackBerry, iPhone and iPad and they can respond to customers and prospects more quickly than ever before,” he said.

Speaking at the launch of the product, Mr Asiedu said “Z-WEB Acquiring is one of such technological innovations, being used in developed countries as a platform to facilitate online transactions.”

He explained that Z-WEB Acquiring (Verified by Visa) was an online financial product that enabled Visa Card holding-customers the platform to make secured online transactions as well as to enjoy a hassle-free settlement and protection against fraud-related charge backs and disputed transactions.

Mr Asiedu said “With such benefits as real-time card authentication and payment authorisation, easy reconciliation as well as fraud elimination, you will agree with me that indeed the introduction of this product is crucial for merchants and consumers alike.”

He urged businesses to sign on to the Z-WEB Acquiring product to execute business transactions in an easier, safer, timely, and more efficient and effective manner.