SMSGH is gearing up to launch a new holistic and better way of making electronic payments in Ghana before the close of the year.

The new electronic payment platform, dubbed “mPower” is complete end-to-end online and mobile payment transactions solution to enable consumers and merchants send, spend and receive payments.

Adom News is reliably informed that the system already active online but yet to go commercial later this year.

Some banks, mobile networks, utility companies, service providers, online shops, media content providers and others already hooked on and so their customers can enjoy the service prior to the launch.

mPower was designed by Ghanaian-based SMSGH and ncode.devlabs, with support from Urbanhive Group Inc. of the United States of America, and it works like the internationally acclaimed Paypal online payment platform.

A brief Service Summary from the makers of mPower indicates it makes online and mobile payments and transfers secure and seamless.

It combines all electronic payment technologies like mobile money, debit/credit card, internet banking, bank electronic transfers and others into one account, through which the user can access money from the various sources for transaction online.

Users of mPower are allowed to open a single online account at www.mpower.com.gh, through which they could have access to the money in their bank account, mobile money wallet from any network, Mastercard, Visa card, Visa Electron, American Express cards and a bevy of electronic payment services one is subscribed to for payments online.

It allows the user to transfer money from any of the above mentioned sources into the mPower account in a cheaper, safer and secure way, so one could have access to the money in a more flexible way without always reverting to one’s bank, mobile service provider or others.

Once the user has access to the various sources of his or her money through the mPower account, one can pay utility bills, service bills, shop online, buy airtime from any mobile network, buy music/movies, send and receive money to other mPower account holders, and do several other transactions online without limitation.

mPower, for instance, removes the limitation of mobile money account holders doing electronic transaction only within a particular mobile network, because it allows the flexibility of accessing money from one mobile money account to do a wide range of transactions, including buying airtime from another mobile network.

The user is able to access money in the mPower account through the use of his or her mobile phone number and a password, without having to go through the cumbersome process of providing confidential payment details anytime one makes a transaction. This also prevents the risk of carrying lots of cash all the time for transactions.

The service brief says corporate organizations could use mPower to make payments via various channels in a flexible way to colleagues, suppliers or contractors around Ghana.

For business, it enables direct processing of payment from over 10 funding sources, one simple integration and contract, and access to millions of mobile money subscribers, banks customers, as well as debit and credit card users, all within a sophisticated fraud chargeback protection environment.

“mPower is not just a new payment platform but a better payment platform that made use of existing ideas to build a new payment experience that's powered by you – the customer.

“mPower is a new payment network that works with your preferred digital wallets or bank accounts to offer a cheaper, safer, and overall better payment experience,” the service brief said.

It noted that security is key on the mPower platform, saying the security on the platform was designed to keep the customer safe, with the highest encryption standards, and continuous update of systems to tackle emerging threats.

“mPower offers low processing rates starting at as low as 1.5% with a promise to keep our fees constantly low and totally transparent,” the service brief said. “Some transactions are free while others attract very minimal fees and all charges are payable from your mPower Account.”

SMSGH is Ghanaian-based digital content aggregator that provides bulk sms, corporate sms, mobility and web solutions, as well as short code aggregations for content developers, banks, insurance companies, media organizations, mobile network operators, handset manufacturers and others across Ghana and parts of West and East Africa.