Payment service providers operating in silos are weakening Ghana’s fight against fraud — Ebenezer Baffour

Speaking during the Digital Economy Forum on JoyNews on Wednesday, July 22, Mr Baffour said although banks, fintechs and payment service providers operate under similar regulatory and security requirements, the industry remains fragmented when it comes to sharing information and coordinating responses to fraud.

Mr Baffour suggested that stronger industry-wide cooperation and information-sharing mechanisms among payment service providers would significantly improve Ghana's ability to detect and prevent digital fraud.

The Head of Internal Affairs at Hubtel, Ebenezer Baffour, has warned that the lack of collaboration among payment service providers (PSPs) is undermining efforts to combat fraud in Ghana's rapidly expanding digital payments ecosystem.