On Friday, January 17, or so, a senior colleague in the Telecommunication industry, Charles Asamoah Assah made a post on LinkedIn which caught my attention to expedite my write-up and share with other digital finance enthusiasts and everyday learners to share their opinions and thoughts on as well.
The total volume of e-money transactions has surged to 3. Registered mobile money customers have grown to The number of registered and active agents has also expanded, reaching , and ,, respectively.
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My field research suggests that despite advancements in digital finance, factors such as network reliability, feature phone usage, and user familiarity continue to reinforce the persistence of USSD as the preferred transaction mode. Network Reliability and Universal Access.
This reliability is crucial for merchants and consumers who cannot afford transaction failures during critical payments. Device Independence and Accessibility. Many Ghanaians own smartphones but also keep basic phones as backups specifically for mobile money transactions and more. Cost Considerations. The data cost factor cannot be overstated. Trust and Familiarity. I refer to this point as Muscle Memory. This deep trust, coupled with the ease of remembering and using these codes, creates a strong psychological barrier to switching to newer platforms such as smartphone and their application.
Transaction Speed. Security concerns, particularly around PIN exposure, remain significant. It bridges technological divides, supports financial inclusion, and aligns seamlessly with the cultural and economic realities of Ghanaians. As Ghana continues its digital transformation, USSD will remain a cornerstone of its financial infrastructure, a reminder that sometimes, simpler technologies are the most effective solutions.
