The Vice President of the Republic, Dr Mahamudu Bawumia, has launched Ghana’s Universal Quick Response (QR) Code and Proxy Pay system in Accra.
While QR CODE payment systems have been implemented in many countries (especially in Asia), very few countries have successfully implemented a Universal QR CODE.
The launch which took place on March 25, 2020, makes Ghana the first country in Africa, and the third in the world (after Singapore and India) to launch a Universal QR Code.
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Launched online due to the vagaries of the coronavirus pandemic, and under the auspices of the Ghana Interbank Payment and Settlement Systems Limited (GhIPPS), a subsidiary of the Bank of Ghana, the QR Code and Proxy Pay systems are designed to make secure, convenient and low-cost financial service available to the vast majority of people, and to solve the pain points of traditional finance institutions.
“The Universal QR CODE will make it possible for all merchants, service providers and institutions to receive payments from bank accounts, ezwich accounts, mobile money wallets or internationally issued visa or MasterCards instantly,” Vice President Bawumia stated at the launch.
The Vice President also explained that the Universal QR CODE will bring about interoperability across all telcos and across all banks and between banks and telcos.
He noted when you go to a merchant with a Universal QR CODE, as long as you have a bank account or a mobile money account from any financial institution, fintech or telco, you will be able to pay the merchant regardless of which bank.
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The Vice President further stressed that the Universal QR CODE, has provided Ghana with the vehicle to make all payments in the economy digital.
Any owner of a phone, whether it is a smart phone or a “yam” or feature phone can use the Universal QR CODE to make or receive payments.
YEN.com.gh earlier reported that the Inspector General of the Ghana Police Service, James Oppong-Boanuh, has directed personnel of the Motor Traffic and Transport Department (MTTD) to suspend all routine motor checks across the country with immediate effect.
The directive is a measure to prevent the spread of the COVID-19 disease which has so far infected 27 persons in the last few days in Ghana.
The checks include stopping and inspection of vehicle documents.
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Source: Yen Ghana