Ghana’s shift towards a cash-lite economy gained further momentum in 2025, as internet banking transaction values jumped 80.7 percent to GH¢383.82 billion, while interbank cheque volumes declined by 4.8 percent.
The growing preference for digital payment channels is increasingly reflected in the declining use of traditional payment instruments, particularly interbank cheques.
Data from the Bank of Ghana’s Payment Systems Oversight Annual Report 2025 shows that the volume of interbank cheques cleared fell by 265,641 in 2025, representing a 4.8 percent decline.
Although the value of cheque transactions continued to increase, the pace of growth slowed significantly.
The total value of cheques cleared rose to GH¢415.20 billion in 2025, from GH¢385 billion in 2024, representing a 7.9 percent increase, compared with a 31 percent growth recorded in 2024.
The continued moderation in cheque volumes and values is attributed to the reduced use of cheques, as individuals increasingly opt for instant and digital payment methods, including mobile and internet banking, particularly for low-value transactions.
Businesses, however, continue to rely on cheques, largely for high-value transactions.
Meanwhile, internet and mobile banking recorded strong growth in 2025, highlighting the rapid shift towards digital financial services.
The total value of internet banking transactions surged by 80.7 percent to GH¢383.82 billion, from GH¢212.44 billion in 2024.
Transaction volumes also increased significantly, rising from 26.06 million in 2024 to 47.59 million in 2025.
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