In 2023, the number of e-zwich cardholders increased by 11.63 percent to 4,047,066.

The total volume of e-zwich transactions increased by 17.19 percent to 7,218,198 in 2023, while the total value of transactions increased by 36.54 percent to GH¢20,002 million in 2023.

The results reflected a growth in access and usage of Ghana’s biometric smart card payment system and the Bank’s efforts at engendering inclusive financing, according to the Bank of Ghana’s Payment Systems Oversight Annual Report 2023.

Also, the total volume of Ghana Interbank Settlement (GIS) transactions in 2023 increased by 2.1 percent.

Similarly, the value of transactions increased by 49.0 percent to GH¢3,443.98 billion in 2023, from GH¢2,312.06 billion in 2022.

The volume of inter-bank cheques cleared was reduced by 244,995 in 2023, representing a 4.3 percent decline compared to a decline of 3.4 percent in 2022.

The gh-linkTM platform recorded an increase in both transaction volumes and values in the year under review.

ATM transactions continued to dominate on the gh-linkTM platform and constituted 98.3 per cent of transactions.

The number of registered internet banking and mobile banking customers increased in 2023, by 16.6 percent and 51.5 percent respectively, while transaction volumes for both channels recorded an increase of 30.7 and 2.5 percent growth, respectively.

The total volume of mobile money transactions increased to 6.81 billion in 2023, from 5.07 billion in 2022, representing a 34.3 percent growth.

Additionally, the total value of transactions increased significantly by 79.0 per cent to GH¢1.92 trillion in 2023, from GH¢1.07 trillion in 2022.

The number of active mobile money customers and agents also showed a growth of 2.6 percent and 21 percent, respectively.

Float balances held by banks increased by 44.3 percent to GH¢18.86 billion in 2023, from GH¢13.07 billion in 2022.

The rise in overall transactional volume was due to a surge in wallet usage among engaged mobile money customers.

The top five transactions performed by users according to the value of transactions included the following: cash-in, cash-out, bank-to-wallet (B2W), wallet-to-bank (W2B) and person-to-person (P2P) transactions.

Together, these transactions represented 42.0 per cent of the total transaction values in 2023.

Mobile Money Interoperability (MMI) transaction values and volumes both recorded a 24.0 percent growth in 2023.

Transferring funds from one wallet to another remained the most used case for mobile money interoperability.

Wallet-to-Wallet transaction activities remained the dominant transaction type for 2023, with the product accounting for 83.0 percent of total transaction value for the year.

Similarly, Wallet-to-Bank transactions accounted for 17.0 percent of transactions in 2023.