Managers of G-Money a USSD-run mobile money service which allows individuals and businesses to store money and make transactions on their phones and other personal digital assistant devices (PDA) are hoping to sign over one million customers onto its platform by close of year 2020.
Managers of G-Money are optimistic after catching the attention of some 300,000 customers just five months after its introduction.
The service was launched in January 2020 by GCB Bank to drive financial inclusion as part of its strategic objectives.
The wallet can also be used to make payment for other services such as utility bills and airtime.
The introduction of G-Money is part of GCB Bank’s mandate to increase the number of digital services available to its customers. The service is also expected to further propel Ghana’s interoperability system initiated by the Government.
Being the first bank-led mobile money service, G-Money offers the same level of security as a regular GCB Bank account. With G-Money, customers have total control of their transactions since they originate all transactions themselves. The service also gives existing bank customers the opportunity to own a G-Money mobile wallet by self-onboarding onto the service.