Absa Bank Ghana Launches Absa Pay, Ghana's First Issuer Wallet
Ghana’s digital payments landscape has received a significant boost with the official launch of ABSA Pay, the country’s first issuer wallet powered by Visa’s Near Field Communication (NFC) technology. The launch, a collaboration between global payments leader Visa and Absa Bank Ghana, took place on Friday at Ghud Park, Accra Mall.
The event drew together key players in the financial technology sector, including industry stakeholders, fintech companies, media representatives, and digital influencers, all eager to witness the unveiling of this new era in contactless payments.
ABSA Pay is seamlessly integrated into the Absa Mobile Banking App, allowing customers to make quick and secure tap-to-pay transactions at any point-of-sale terminal equipped with NFC technology. This eliminates the need for traditional payment cards or cash.
According to Andrew Konan, Visa’s Country Manager for Ghana, contactless payments are rapidly becoming the preferred method globally due to their speed, security, and convenience. “While Ghana has made strides in digital payments, there’s still considerable ground to cover in driving widespread adoption. ABSA Pay is a crucial step in modernising our payment systems and providing Ghanaians with a world-class payment experience,” he stated. He further emphasized Visa’s commitment to partnering with local financial institutions to promote financial inclusion and digital commerce.
Abena Addo, speaking on behalf of Absa Bank Ghana, explained that the bank’s primary objective is to deliver products that effortlessly integrate into customers’ daily lives. “This partnership with Visa enables us to offer a secure, convenient, and forward-thinking payment solution that directly addresses the evolving needs of our customers,” Addo said. She added that ABSA Pay strengthens the bank’s overall digital transformation strategy, solidifying its position as a leader in innovative retail banking within Ghana.
Industry analysts predict that ABSA Pay will significantly impact Ghana’s digital payments sector by raising awareness of contactless payment options, encouraging both merchants and consumers to adopt the technology, and reinforcing the strong relationship between Visa and Absa Bank Ghana.
With increasing mobile phone penetration and the growing availability of NFC-enabled terminals, observers believe ABSA Pay has the potential to accelerate Ghana’s move towards a cashless economy.
Image Source: MYJOYONLINE
