Vice President Dr. Mahumudu Bawumia has revealed that Ghana will soon get back on the on the online payment company Paypal in 2020 after being blacklisted for almost 15 years.
According to Dr. Bawumia, Ghana has held some discussions with Paypal and outlined a road map for the country to be taken off the company's blacklist in two years time.
“I am happy to announce that Ghana has concluded discussions with PayPal, and Ghana will therefore, if all goes well, become one of the PayPal compliant countries in two phases".
"According to the roadmap presented by PayPal, by the second half of 2019, Ghanaian merchants should be able to receive payments for their goods sold online. By the first half of 2020 Ghanaian consumers would be able to make payments for goods and services purchased online via Paypal accounts,” Dr. Bawumia said.
The Vice President who was speaking at the launch of the first phase of Ghana's mobile interoperability system on Thursday, May 10, urged stakeholders to ensure that the new action plan is implemented within the time frame.
He asked the Ghana Interbank Payment and Settlement Systems(GHIPSS) to take full advantage of the opportunities it presents.
Ghana was blacklisted from Paypal in 2004, along with other sub-Saharan countries due to the high incidence of credit card fraud from these countries.
But even though Nigeria in 2014 was taken off PayPal’s blacklist, Ghana remains on the list denying Ghanaians from being able to purchase and pay for their goods and services online using PayPal.
Paypal is an international payment system which operates as a platform for sending and receiving remittances across the world.