This is another milestone in Ghana’s strategy to develop an efficient payment systems framework to underscore the digitization process. 5  11. Broadly, implementation of the Act is expected to  liberalize the country’s payment system further and allow for the entry of non-banks, direct licensing of fintechs by the Bank of Ghana, and ultimately promote financial inclusion to facilitate electronic means of payment.
In the long-run, Ghana’s new Payment Systems and Services Act is expected to help improve not only the payments system but also create an enabling environment for the on-going digitization processes in the economy. 12. By and large, the SWIFT network provides data, reports  and important information for regulators, banks and other financial institutions, as well as policy makers across the globe.