Ghana, Accra (June 7, 2016) – Zhuhai XH Smartcard Co Ltd (XH Smart), global technology leader that provides end-to-end digital security solutions, smart cards, POS terminals and personalization systems, today announced that it successfully held a Banking Conference together with UnionPay International at Alisa Hotel in Accra, to share about the Latest Global Trend in Digital Payment, Contactless Technologies and EMV Migration Status.
The global payment landscape is evolving faster and bringing forward with the introduction of new digital payment technology, higher mobile and internet penetration rate. The push from governments and central banks worldwide to digitize payment transitioning from a Cash-heavy to Cash-lite payment environment further fueled the speed of implementation. Internet & Mobile banking, contactless (EMV) payment and e-Commerce is expected to grow at an exponential rate in the next 3 – 5 years. This conference served as an insightful forum for sharing knowledge and best practices among payment industry experts, the representative from Beijing Tongfang Microelectronics Co Ltd (TMC), UnionPay International Ghana, the 22 representatives from 14 banks in Ghana and XH Smart Team.
“There is still an obvious gap in the existing payment system in Ghana compared with other countries, especially in the Cash-Lite Economy Program,” said Mr. Blay, the representative from Bank of Ghana, “Along with the rapid development of financial and banking industry in Ghana, we should adopt new payment technologies to improve the current situation.”
According to the current payment situation in Ghana, XH Smart introduced the latest payment technologies – HCE (Host Card Emulation) Solution and Instant Issuance System. HCE allows faster market implementation for issuing banks to offer Mobile Payment Services easily. Instant Issuance System enables issuing banks to issue EMV Cards instantly and securely at branch level. XH Smart also elaborated the benefits of XH HCE solution and XH Instant Issuance System, security and implementation. The introduction of XH Smart’s payment products and solutions received extensive attention and high praise from all the attendees.
At the end of the day, XH Smart expressed the best wish that the conference is informative and worthwhile to every attendee. XH Smart hopes that the conference can create an opportunity for the company to present their latest payment products and solutions in response to Ghana’s Cash-Lite Economy Program. More importantly, XH Smart also hope that the conference can help stimulate the continuous development of Ghana’s banking sector and together drive further the development of the entire payment market in West Africa.
