Ghanaians in the Diaspora are set to benefit from the country's first ever fully electronic payment system in a move to ease bureaucracies and fraudulent activities in both foreign and local business transactions.

The system which takes off this year will be operated by the Omanye E Payment Systems with one of Ghana’s giants in the mobile phone telecommunications providers AIRTEL providing the technical controls.

The system is not deemed by experts as one of the ordinary money transfer business but rather a simple but effective electronic payment method that could be used by businesses and individuals to make reliable and efficient business transaction from the Diaspora to any part of Ghana.

It would also provide users with the power to have absolute control over their monies and payments.

At a media launch in London the CEO of Omanye E – Payment Systems, Mr. Sammy Crabbe, explained that the technology simply and securely signs the transactions using the sender or recipient's mobile sim card. It then uses encrypted transactional data to make secure transactions.

The system could simply be used in many forms of transactions such as the payment of all kinds of bills and mortgages. Plans are far advanced to make it possible to pay for school fees in Ghana from abroad with the facility. Other benefits of the e - payment system include, enhanced security, and easy accessibility, especially for customers that are rural-based.

“It is a system, which is used as an “electronic wallet” and it is not aimed to move monies around, but ensures an efficient control of monies.” Mr. Crabbe explained.

The project, which is being implemented first in the United Kingdom, will soon be extended to the rest of the world. “With the unique facility the system seeks to take Ghana to the rest of the world and also the rest of the world to Ghana thus making Ghana a complete part of the global village.” He observed. It will also help a lot of Ghanaians living abroad in terms of avoiding friends and relations who may misuse their monies during remittances.

Mr Crabbe said Ghanaians living abroad could register at the company’s website or accredited agents and have full access to the service. He explained that after the signing up a prepaid mobile wallet account is automatically created for the client. “They can then load funds onto their account.” He said. Individuals could have a maximum balance of 600 Ghana Cedi equivalent while business or merchants account holders will have rather large amount of reserves on their accounts at any particular time.

“We have set these limitations with the regulatory bodies chiefly to check fraudulent activities and to ensure smooth operations.” He noted

According to him, the products has been registered with the Bank of Ghana and few prominent banks in Ghana such as the ECO BANK and the STANDCHART have been issued with licence to create what he called the “electronic currency” for the operations of the new system.

The Head of Airtel Ghana Limited, Mr. Kola Sonola expressed delight in the collaboration with Omanye E Payment System in offering Ghanaians in the Diaspora an alternative in business and other transactions.

He said a number of Ghanaian banks have expressed interest in being part of the unique payment system and expressed the hope that it would ease the burden on Ghanaians in the Diaspora by way of transacting businesses home from abroad. Mr. Sonola noted that Ghana hopes to be part of the cashless community in a bid to reduce fraud often associated with large business transactions, and this is a perfect move to ensure that.

The Chief Executive of Ridgeview Properties, Mr. Asad Nazir, noted that Ghanaians in the Diaspora wanting to have properties in Ghana at times face problems in terms of remittances. This facility, according to him would enable as many Ghanaians as possible in the Diaspora to acquire property and also invest at home without much difficulty.

A new Ghanaian made energy drink “The Omaye Energy drink” was also launched.