The Impact of Electronic Banking

4906 Words Mar 12th, 2012 20 Pages
The impact of electronic banking on the indigenous banks, the case of the introduction of ezwich
The challenges of implementing Electronic Payment Systems – The Case of Ghana’s E-zwich Payment System

Introduction
Several electronic payment systems have been introduced into the country in recent times with the most significant being e-zwich smart card payment system, a national domestic smart card payment system meant to reduce the large amount of cash held outside the banking system. Despite the progress made, it is estimated that only 20% of the population have bank accounts and 90% of the cash issued by the Bank of Ghana is still held by the non-bank public The study uses primary data collected through deep interviews with Ghana
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Although it is very efficient in those people who spend most of their time facing their expensive computer and locked in a same room. It is also applicable for those who stay at home as long as they have a connection in the internet. And it is called Home Banking procedures, for at the same time, a client can track the transactions via phone or internet services. The purpose of the electronic banking is to let the bank go for you, if you cannot go for it.
Impact of Electronic Banking For most customers, it is a convenience that they have grown accustomed to the electronic banking. And for the large commercial customer, processing thousands or even millions of payments and/or sales a day – it would be impossible to live without the attachment on it.3
The following can be the impact in the Banking Industry as well as with the consumers.4
The banks can become technology providers by spinning off technology resources to start up new business streams, they can become content providers for information regarding products, indices etc, they can become context providers for setting-up e-market spaces, and also enablers by providing back bone systems to support multiple payment system alternatives.
The online channel enables banks to offer low-cost, high
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