Visa, a global leader in digital payments, has partnered with Access Bank (Ghana) Plc. to launch Visa Accept, a solution that enables micro, nano and small merchants across Ghana to accept contactless card payments directly on their smartphones without additional hardware.
The solution, unveiled in Accra on September 18, is designed to address the cost and complexity of traditional point-of-sale (POS) infrastructure, which has limited card acceptance among some of Ghana’s smallest businesses.
Through Visa Accept, eligible merchants can create a seller profile within the Access Bank mobile banking app and begin accepting digital payments within minutes.
Customers can make payments using contactless cards or mobile wallets, scan a QR code, or use a secure payment link, eliminating the need for dedicated POS equipment.
Funds are settled into merchants’ existing bank accounts in near real-time, while transactions are supported by Visa’s security standards and consumer protections, including assistance with disputes and refunds.
Visa Ghana Country Manager, Fabrice Konan, said the solution would help address the gap between growing consumer demand for digital payments and digital payment acceptance among smaller merchants.
“Consumer demand for digital payments in Ghana continues to grow, but acceptance among smaller merchants continues to face challenges,” he said.
“Visa Accept is helping close that gap by making it easier and more affordable for micro and small businesses to accept digital payments using the smartphones they already own.”
He said expanding access to digital payment acceptance would enable more merchants to participate in the digital economy while giving consumers more convenient and secure ways to pay.
Access Bank targets informal businesses
Executive Director of Retail and SME Banking at Access Bank (Ghana) Plc., Eugene Ocansey, said the bank was proud to be the first bank in Ghana to partner Visa on the solution.
He said the initiative presented an opportunity to help transition informal businesses into the formal economy by providing them with tools that make their revenue and cash flow more visible.
“The bulk of businesses in our country are SMEs, and Visa Accept gives us an opportunity to start transitioning those who are informal into the formal economy,” he said.
“When a merchant has a tool that brings in their money and makes their cash flow visible, we can understand what the business does, and that is what makes the average SME bankable.”
Mr Ocansey said Visa was providing the technology while Access Bank would leverage its reach to make the solution available to merchants who need it.
Visa Accept is now available to eligible Access Bank Ghana customers nationwide.
Merchants can enrol through the Access Bank mobile banking app or visit an Access Bank branch for assistance.
