Beyond mobile money, Ghana’s wider digital payments ecosystem expanded in 2025, though growth remained uneven across platforms, showing where efficiency gains for businesses are strongest and where structural limits persist.
From the Bank of Ghana’s Summary of Economic and Financial Data, instant account-to-account transfers through the GhIPSS Instant Pay (GIP) platform recorded the largest transaction values outside mobile money. GIP transactions totaled 73.3 billion cedis in December, up from 45.5 billion cedis a year earlier. Transaction volumes rose to 21.2 million from 16.6 million over the same period, reflecting rising use by businesses for supplier payments, payroll processing and high-value retail transactions.
For larger firms and corporates, GIP’s growth signals a gradual shift toward faster bank-based digital settlement, particularly as mobile money transaction limits constrain higher-value payments. Still, GIP volumes remain small compared with mobile money, highlighting the continued dominance of wallet-based payments for mass-market commerce.
Internet banking usage also increased, with transaction values rising to 44.5 billion cedis in December from 33.5 billion cedis a year earlier. Transaction volumes climbed to 5.4 million from 3.1 million, indicating increased adoption by businesses and salaried individuals for bill payments, transfers and account management .
Automated Clearing House (ACH) payments showed weaker momentum. ACH direct credit transactions totaled 14.0 billion cedis in December, while ACH direct debit transactions stood at 334.3 million cedis. Volumes fluctuated during the year, suggesting limited uptake for recurring payments such as utilities, subscriptions and loan repayments.
Cheque usage continued to decline in relative importance. Cheque transaction values amounted to 37.3 billion cedis in December, with volumes at 462,000 transactions, reinforcing the gradual shift away from paper-based payments even for corporate and government transactions.
Card-based infrastructure expanded, though usage growth remained modest. Point-of-sale terminals increased to 18,117 in December from 15,597 a year earlier, while debit cards in circulation rose to 5.7 million from 6.5 million at the end of 2024, reflecting mixed trends in consumer card adoption. Credit cards remained marginal, with just 72,000 issued nationwide .
Legacy platforms such as e-zwich and Gh-Link showed limited growth. E-zwich transaction values stood at 3.4 billion cedis in December, while Gh-Link transactions totaled 76.6 million cedis, underscoring their declining relevance for mainstream commercial activity.
For businesses, the data show a payments landscape dominated by mobile money for volume and reach, complemented by instant bank transfers for higher-value transactions. The gaps lie in underdeveloped recurring payment systems, limited card penetration, and fragmented integration between platforms.
As digital payments volumes rise alongside easing inflation and stabilizing liquidity conditions, the figures suggest that improving interoperability, expanding ACH usage and lowering transaction costs will be key to unlocking efficiency gains for businesses and supporting more formal, scalable commercial activity across Ghana’s economy .
