Abstract
Payments are crucial in the economic system of every country. Mobile money as a method of payment is gradually taking waves in Sub-Saharan African. In Ghana, it is one of the most patronised modes of payment. This method of payment is gradually replacing the traditional cash and cheque payments in Ghana. Its success in the country has greatly contributed to financial inclusion among the large unbanked population. However, regulations on mobile money were basically mobile telecommunications network based, this was due to the unfriendly nature of the Branchless Banking Guidelines which made the mobile money operation bank-led. The introduction of the recent Electronic Money Issuers Guidelines, which govern all electronic money operations including mobile money has brought significant regulatory changes. Notwithstanding, with respect to yearly transactions of mobile money compared to the traditional payment methods and risks involved, it is recommended that separate regulations on mobile money be implemented to enhance its operation.
LL.M. (Banking Law)