The Bulk Payment unit is under the Business Development Department of GhIPSS; responsible for the management of all products on the GhIPSS Clearing House Platform.
The objectives of BP Unit are:
- To develop and manage the relationship between GhIPSS and all users of the Clearing House Platform
- To ensure users of the Clearing House platforms are well informed and have a better understanding of the Clearing House infrastructure.
- To ensure customer satisfaction on the functionality and efficiency of the platform
- To develop business strategies and initiatives to drive usage and transaction volumes.
BULK PAYMENT SERVICES
GhIPSS’ Bulk Payment Services leverage the APTRA Clear infrastructure; for the processing of Cheques and ACH Direct Credit and Debit.
Bulk Payment Services:
- Cheque Codeline Clearing with Cheque Truncation (CCC)
- Automated Clearing House Direct Credit (ACH DC)
- Automated Clearing House Direct Debit (ACH DD)
PARTICIPATION IN THE CLEARING HOUSE
Participation in the clearing system is open to the following institutions:
- icensed Commercial Banks
- Rural & Community Bank ( Through Apex Bank)
- Savings & Loans ( Through sponsoring Commercial Bank)
ONBOARDING FINANCIAL INSTITUTIONS
- The entity must be licensed as a bank by the BOG, issued a settlement account and sort codes
- The bank then writes to GhIPSS requesting to be setup on the Clearing House platform.
- GhIPSS writes to the bank advising them about the joining fee and technical requirements
- Once technical requirements are met and the joining fees paid, the bank joins the financial network through a Comsys provided link.
- The bank then acquires the necessary hard and software devices to enable them access the financial network.
- Network testing and file exchange is undertaken between GhIPSS and the bank until the bank is certified on the platform