- The vice president Dr. Mahamud Bawumia says Ghana is moving onto cashless society by March
- He said a universal QR code will be launched next month to begin the process
- The vice president said this is to enable all retailers to trade without holding plenty cash
- Bawumia said Ghana will be the first in Africa to enroll this as already been done by the UK, Singapore and China
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The vice president, Dr. Bawumia, has announced that Ghana is moving to cashless society from March.
He explained that a universal QR code will be launched by the Bank of Ghana to facilitate the new process.
According to him, this would enable all retailers, regardless of what they sell, to receive money via their mobile, not necessarily cash payment.
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Bawumia reportedly made this revelation in a town hall meeting and results fair in Kumasi on Tuesday, February 11, 2020.
He mentioned that retailers who sell waakye, beans, Kofi brokeman (roasted plantain), trotro, and all you can think of, would receive cashless payment.
“Thanks to the Bank of Ghana, next month, in March, Ghana will launch the universal QR code payment system, which will make it possible for all retailers, including those who sell Kofi Brokeman and waakye on the streets, to have the capacity to receive payments directly on their mobile phones without a point of sale device,” Bawumia said.
"Even trotro, if you want to pay by mobile wallet, they will have their QR code. Everybody will be able to receive [money]. You don’t have to keep a lot of cash if you are selling things,” the vice president added.
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The vice president first announced the universal QR payment method in 2019, and it seems the government is ready to let it roll.
He added that countries like Singapore, China, and UK already have this trading system, and Ghana will be the first in Africa.
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