Mobile money "cash-in" increases by 64.5 percent to 164.80 billion in 2021, according to BoG
Money transactions are now more efficient thanks to mobile money.
Mobile money's total cash-in value climbed by 64.5 percent from 2020 to 2021, reaching 164.80 billion from 100.17 billion.
The Payment Systems Oversight Annual Report of the Bank of Ghana released. As a result, the average cash-in value increased by 29.1% from 204 to 264 in 2021.
In 2021, cash-in values made just 12.1% of overall transaction volumes, down from 16.3% in 2020.
Although the total amount of cash-out transactions climbed, going from 78.01 billion in 2020 to 96.50 billion in 2021, a 23.7 percent rise.
Similar to this, the average cash-out value climbed from 152 in 2020 to 179 in 2021, an increase of 18.0 percent.
According to the Bank of Ghana, the top three e-wallet-based transaction types by volume were all airtime top-ups.
Cash-in and cash-out of mobile money transactions came next.
However, cash-in, P2B payments, and cash-outs ranked first through third in terms of value.
The Central Bank reports that from 198 in 2020 to 230 in 2021, the average mobile money transaction value climbed by 16.3 percent.
Mobile Money transactions expand by 9.99 percent annually in the first four months of 2022.
In the first four months of 2022, mobile money transactions increased by 9.99 percent year over year to 331.2 billion.
However, mobile money transactions totaled 301.1 billion in the first four months of 2021.
Data from the Bank of Ghana shows that up until April 2022, when they marginally decreased, mobile money transactions increased continuously.
The implementation of the Electronic Transaction Levy (E-levy) on May 1st, 2022, may be responsible for the modest decline in the April 2022 number.
Government officials' comments imply that the levy idea might be renegotiated. During the voting, the majority coalition was not present.
blogpay
Total Comments: 0