Ghana to become Africa’s first country to launch the Universal QR code for payments – Dr Bawumia
The government is set to launch a new payment system known as the Universal QR code on March 25, 2020.
The code, when introduced, would be the first interoperable payment acceptance solution in Africa. It is expected to provide merchants with an easier option for digital payment on business transactions.
Vice President Dr Mahamudu Bawumia made this known once again at the maiden Mobile Technology for Development (MT4D) conference in Accra on Tuesday.
In December 2019, the Vice President had announced the government’s plan to launch the Universal QR code in 2020.
The Vice President, who expressed his excitement about the new system, said the code would speed up the pace of making Ghana a cash-lite society in the near future.
He emphasised the need to move away from the heavy dependence on cash and move to non-cash instruments.
“This will allow payments to merchants (from waakye sellers, koko sellers, groundnut sellers and trotro drivers to the big players) through mobile phones with no need for point of sale devices…no squabbles or exchanges,” he said amidst cheers from the audience.
He added that the application would be accessible to everyone regardless of what phone one was using.
The two-day conference provides a platform for stakeholders within the financial, technology and development sectors in the country to deliberate, exhibit solutions and take stock of innovations within the digital financial ecosystem.
The conference, which is being organised by the Chamber of Telecommunications and Financial Inclusion Forum Africa, is on the theme “Leveraging Mobile Technology to Drive Financial Inclusion.”
What to know about the Universal QR code
The Universal QR code comprises squares of black and white blocks that smartphones can scan to make it easier for businesses to accept electronic payments.
Singapore, China, and the United Kingdom already launched the Universal QR code in 2018.
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