GhQR code for payment was at the weekend recognised as the Payment System Innovation of the year, at the 11th Ghana Information Technology & Telecom Award (GITTA). The award was created as a strategic platform to recognize pioneering ICT initiatives in Ghana.
Also recognised on the night was the Chief Executive Officer of Ghana Interbank Payment and Settlement Systems (GhIPSS) Mr. Archie Hesse as the Payment Systems Personality of the Year, an award he has won for the third consecutive year.
GhQR is one of the latest products of GhIPSS with features superior to similar payment platforms in other countries. In most countries QR code for payment is proprietary meaning that it is limited to customers of specific banks, with a few countries migrating to make their QR codes for payment interoperable.
In Ghana however, the QR code rode on existing systems deployed by GhIPSS was universal not only among banks but extends to telecommunication companies providing mobile money services as well as Fin Techs. This novelty made Ghana’s QR code for payments, a celebrated story and it was therefore not surprising that it was equally recognised by the information technology and telecommunication industry awards.
Mr. Hesse who has been the CEO of GhIPSS since 2012 has spearheaded several initiatives that has led to the significant modernization of Ghana’s payment system. In an interview Mr. Hesse commended the organisers for recognizing the efforts of GhIPSS and said such awards will challenge the organisation to continue to explore new grounds. He dedicated his award to the staff of GhIPSS for working night and day to rollout innovative products and services such as GhQR. He was confident that GhQR together with mobile money interoperability will revolutionize payments in Ghana.
GhQR is an electronic payment channel that enables customers to scan displayed QR codes with their smart phones and pay, or dial displayed USSD codes with their phones to make payment. Ghana’s QR code for payment is universal which means that any customer whose bank or payment service provider offers the service can use it wherever it is displayed.
It is considered a game changer in the cash-lite agenda, as it is easier to set up, less expensive to manage and payments made on the GhQR platform hits the account of the merchant or receiver instantly. Payments made through the platform also do not attract any charge.
