TAKORADI TRADERS WANT MORE EDUCATION ON E-ZWICH (PAGE 29)

Traders in the Sekondi-Takoradi metropolis are calling for intensive public education on the new banking product - e-Zwich - as it promises to be one of the best products that would eliminate multiple handling of the country’s currency notes.
They said they did not find any difficulties with the introduction of the new currency as compared with the introduction of the e-Zwich product, because in the first exercise the old and new notes ran side by side for six months before the withdrawal of the old notes in December last year.
“But with the new product, we need to be taught in order not to make mistakes especially those of us who operate at the market. Another area they have to look at is how we the traders will have access to money when we want to pay our suppliers from the countryside or the hinterland”, they said.
According to Madam Agnes Mireku, a trader at the Takoradi Central Market, the introduction of the new product is perfect, as it would help eliminate excessive or multiple handling of money, highway robbery and the fear of handling huge amounts. Her problem was with traders from the hinterland who supplied them their wares.
She said the fishmongers and those who brought the foodstuffs might not accept the biometric card as a means of payment since they loved handling money.
“That means those of us at the market are not the only target but those who are from villages miles away from the capital,” she said.
“Imagine a situation where you get to the market early and vehicles arrive with tomatoes, yams, vegetables and other commodities. After making your purchases, your only means of payment is the e-Zwich. We can use it to buy from our suppliers such as the Unilever, Vega and the agents of other huge wholesalers but more education must be given to those of us down here and far away in the village,” she said.
One of the traders said: “I have heard of it but I do not like it because I want to hold and feel my money or be counting my money at the end of the day. After a few explanations of the operations of the use of E-ZWICH I think it is a good idea but...”
Other like-minded traders at the market expressed similar sentiments and suggested that when they adopted the use of the E-zwtich there would be desks to assist them at the banks whenever they needed money urgently.
“This is because when you go to the banks, there are long queues, and if goods arrive, especially during Christmas or during other festive occasions where the market becomes bullish and those selling for whatever reason refuse to accept the electronic payment, you may rush to the bank to meet a long queue. What do we do then?” they asked.
They think because it is written on the old and the new currency that “This note is issued on statutory authority and it is a legal tender for the payment of any amount,” no one can refuse to accept it for payment for goods and asked what one would do if somebody decided not to accept the electronic payment and wants the notes.
At the Takoradi market, it is evident that the introduction of the E-zwitch will not only keep the currency notes neat, but will also prevent the multiple handling of money to ensure that these are not defaced earlier than expected.