The latest 2025 KPMG West African Banking Industry Customer Experience survey is revealing that Ghana’s decisive action to repeal the controversial E-levy not only impacts numbers, but it has also lifted a significant psychological barrier to digital transactions.
When Ghana repealed the controversial e-levy in April 2025, it was expected to boost digital transactions, but the survey has revealed that it has gone beyond that.
It will be recalled that the introduction of E-levy made people hesitant to transact digitally because of the fear of hidden costs. This is because the E-levy created a constant mental friction. For the customer, every transfer felt like a potential financial loss.
But there is a turnaround. With the tax gone, the survey shows that customers now rank the ease of transferring money between bank accounts and mobile wallets as the second most important measure of their banking experience.
The findings suggest that the repeal has done more than just reduce costs; it has reassured users, making digital payments feel safe, predictable, and approachable. For instance, many respondents now describe transferring money digitally as “stress-free” and “simple,” underscoring the human, emotional side of financial decision-making.
“The repeal of the e-levy in April 2025 removed a major psychological and financial barrier to digital transactions,” the KPMG survey noted.
It added, “Unsurprisingly, respondents ranked the ease of transferring money between bank accounts and mobile wallets as the second most important experience measure in this year’s survey, and among the top five areas of satisfaction across the industry.”
Yet, the survey also points to lingering concerns. Customers continue to cite bank charges and account maintenance fees as irritants. Some customers believe that there is an E-levy in disguise.
This underscores that while psychological barriers have been lowered, practical barriers remain, shaping how people engage with digital platforms.
The KPMG survey maintains that removing financial hurdles is only part of encouraging digital adoption. Building trust and confidence in digital systems is equally crucial.
As Ghanaians embrace mobile wallets and online banking with newfound confidence, the human-centered approach, which involves understanding the fears, frustrations, and aspirations of users, emerges as a key driver of a thriving digital economy.
