Zenith Bank, Ghana has introduced the “Global Travel Wallet (GTW)” card to the banking sector aimed at enabling users to deposit a maximum of $ 10,000.00 for their business transactions.

The GTW is a Bank of Ghana (BoG) approved pre-paid card that is instantly reloadable and enables travellers to load dollar denomination currencies for their travels abroad. The card allows worldwide usage and withdrawals from VISA enabled Points of Sale terminals and ATMS, and also provides users with an alternative payment method for online transactions via internet channels worldwide.

The card is intended to promote cashless commerce and provide a more convenient and secured means for cardholders to travel with their foreign exchange. Mr Daniel Asiedu, Managing Director of Zenith Bank, Ghana, said the card could be used to make purchases at more than 30 million locations around the world.

“It could also be used to withdraw funds from over two million ATMs around the world and also can be used to enjoy discount deals around the world,” he said. Mr Asiedu urged potential users to contact Zenith Bank branches or some selected forex bureaux for the acquisition of the card with their cash amount and a passport for registration.

He cited confidentiality of customers’ information, convenience and security, reduction in cash handling, access to unused funds and card replacement availability as some of the benefits of using the GTW card. He lauded the Bank’s partnership with Visa international which had culminated in the issuance of the GTW card in Ghana.

Mr Asiedu said the partnership would afford Zenith the opportunity to continue to invest in people, technology to achieve customer satisfaction. He appealed to social, educational or business travellers to obtain the GTW cards as it offers a great deal of convenience in handling their cash.

Mr Kweku Ricketts-Hagan, Deputy Minister of Finance, lauded the Bank for the initiative and called for more innovations in the banking sector. Mr Haruna Iddrisu, Minister of Trade and Industries, appealed to the Bank to offer support to small and medium enterprises in order to give a sound footing to the private sector.

Mr Milison Narh, First Deputy Governor of BoG, pledged the bank’s readiness to support any financial institution desirous of bringing new innovations into the banking sector. He urged Zenith Bank to put in place all the needed measures to ensure that there are no security breaches relating to the usage of the GTW cards.

Mr Kwasi Fosu Gyabaa, President of Ghana Association of Forex Bureax, said there are 350 authorised forex bureaux in the country with their activities restricted to the purchase and sale of foreign currencies. “The ability to issue the GTW cards have improved our capacity to handle other non banking transaction beside those currently authorised by the Bank of Ghana,” he said.

He expressed appreciation to members of the Association, the Visa International Cards Programme and Zenith Bank for the innovation. “This is a very important step towards a new future in payment backed by the world’s most trusted brands that would propel Ghana towards a cashless society,” he said.

Madam Holly Jones, Visa Business Development Manager for West Africa, said the usage of the GTW card is the first of its kind in the Anglophone West African Region. “We at Visa will continue to support Bank of Ghana in its work to achieve its objectives,” she said.