E-zwich is a national switch and smart card payment system in Ghana. This system is been managed by the Ghana Interbank Payment and Settlement Systems.
In this article, we will be looking at how to use E-zwich ATM. This smartcard works both online and offline. it does not require an active connection to a bank to complete a transaction. The smartcard uses finger print identification to secure authenticate transactions and also has a magnetic stripe like the existing bank cards.
The e-zwich used to pay salaries has gone up significantly as it has become an important tool to weed out ghost names from payrolls. Many people, therefore, receive their remunerations on the card and the interoperability means that funds received on the card, can be moved to your bank account as well as your Momo wallet.
HOW TO USE E-ZWICH ATM
This smartcard can only be use by one person because of the fingerprint authentication. To get this card walk to any financial institution and request for the card, your details such as last name, first names, date of birth, email and other details will be taken to complete the process, you will then be given the smart card with the unique card id behind it, you then provide those details in the forms or in your portal for receiving of payment.
After you have been notified of your payment, you then go any bank or E-zwich agent to load the funds on the card. Your finger print and any identification card will be taken for verification on the e-zwich POS. if there is enough money on the card you can then withdraw it in cash or request it should be sent to your mobile money account or bank account. fees are charged for services offered to e-zwich client card holders.
REQUIREMENT FOR E-ZWICH AGENT
- Valid Company Registration documents (Registrar General department ONLY)
- Valid National Photo ID of Applicant
- Area (s) of operation (Detailed directional map to agent location(s) or nearest landmark)
- Details of existing business account/new account with a recognized Financial Institution (Banks/Savings & Loans/Rural Banks).
HOW DOES E-ZWICH ATM WORKS
An e-zwich POS device issued by your bank, savings and loan company or rural bank will have in it a retail merchant card registered to you and linked to your traditional bank account. During payment, your customer’s e-zwich card is slotted into the card reader on the POS and debited by the amount of the transaction using the keypad.
The customer authenticates the payment with their finger print. Their card is then debited by the amount plus any other fees and credited to your merchant card. At the end-of day, you will settle all transactions on the POS electronically through e-zwich to your bank account-linked to your card. You can then draw on the funds from your bank.