Ghana’s digital payment system is undergoing a marked shift, with real time interbank transfers reaching record levels while older platforms continue to lose relevance, according to central bank data through April 2026.
Ghana Interbank Payment and Settlement Systems Instant Pay (GhIPSS Instant Pay) processed 79 billion cedis, about 5.2 billion dollars, in April 2026. That represents a 50.7 % increase from a year earlier. Transaction volumes rose to 19.9 million, pointing to stronger adoption among consumers and businesses.
Momentum has accelerated in recent months. Monthly transaction value rose from 65.1 billion cedis in February to 71.5 billion in March before reaching the April peak, reflecting steady growth in digital payments as Ghana advances its push toward a cash-lite economy.
Point of sale (POS) expansion accelerates
The physical infrastructure supporting digital transactions is also expanding quickly. The number of point of sale terminals increased 44.6 % year on year to 23,151 units in April, with more than 4,500 added in the final two months of the period. The pace marks the fastest deployment on record and reflects aggressive competition among banks and fintech firms to capture merchant transaction fees.
Automated teller machine deployment remained broadly unchanged at about 2,270 units, suggesting a shift in investment away from cash withdrawal infrastructure toward merchant payment systems.
Prepaid cards surge on inclusion push
Prepaid card issuance recorded one of the strongest gains in the data, rising 89.4 % from 379,000 in April 2025 to 718,000 in April 2026. Growth accelerated in the final months of the period, with 282,000 cards issued in March and April alone.
Debit cards increased 12 % to 5.6 million, while credit cards remained limited at 74,000. The surge in prepaid products is widely associated with financial inclusion efforts targeting unbanked and underbanked populations.
E- zwich declines as internet banking shifts
The data shows a widening gap between modern payment rails and legacy systems. E -zwich, Ghana’s biometric smart card platform used for government and salary payments, saw transaction value fall 20 % to 3.2 billion cedis. Transaction volumes dropped 88 % to 54,000, the lowest level in the 13-month reporting period.
The decline suggests a shift of government and institutional payments to broader digital rails, reducing reliance on dedicated E- zwich infrastructure. Enrollment remained unchanged at 4.3 million.
Internet banking presented a mixed trend. Transaction values rose 44.3 % to 42 billion cedis, but transaction counts fell by half to 1.6 million. The divergence suggests larger average transactions or a shift toward corporate and high value transfers.
Ghana’s payment system transformation is unfolding alongside its broader economic recovery following the 2022 debt default and subsequent International Monetary Fund (IMF) programme.
