6 banks start Gh QR Code deployment  

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A display of the Gh QR code in one of the banks

The public can now pay for goods and services through the universal Gh QR code, as some five banks have started deployment.

The public can now pay for goods and services through the universal Gh QR code, as some six banks have started deployment. The banks are Ecobank, GCB Bank, Zenith Bank, Bank of Africa, Fidelity Bank and Agriculture Development Bank. The remaining banks are still in the process to enable them begin the rollout.

The Vice President, Alhaji Dr. Mahamudu Bawumia, launched the universal QR code in March this year. The service adds to the plethora of electronic payment solutions that the Ghana Interbank Payment and Settlement Systems (GhIPSS) has rolled out over the years.

With the QR code, customers only need to scan the codes displayed at various shops and other outlets with their smartphones to make payment. Those who do not have smartphones can pay with their feature phones by dialling a code that will also be displayed at the merchant’s location. The QR code is cheap and easy to set up. It is also a quick and secure way to make payment. It takes away the direct contact associated with cash transactions, which makes it safer to use during the COVID-19 pandemic.

Ecobank had earlier deployed QR codes, but which could only be used by their customers. However, with introduction of the Gh QR code Ecobank has converted most of its existing QR codes of clients to make them acceptable to all customers – regardless of their banks. The other four banks have begun deploying their Gh QR codes at various outlets.

The Chief Executive of GhIPSS, Mr. Archie Hesse, commended banks which have started deployment and encouraged businesses to liaise with banks to have the Gh QR code installed to increase their payment options to customers. Mr. Hesse also challenged the remaining banks to quicken-up their processes, as they risk losing clients to other banks.

The QR code for payment is simple to set up, as it only involves generating unique QR codes which can be a mere sticker posted on the wall of the shops or on a small stand. “Once you find the QR Code displayed, you just have to scan and you pay or dial the USSD code and pay; it is that convenient. Gh QR is universal, so anyone can use any of them regardless of your bank,” Mr. Hesse stressed.

A wide range of businesses including taxi-drivers, small shops, supermarkets, pharmacies, chop bars, restaurants as well as major service providers can all use QR codes to accept payments, the GhIPSS boss noted.

Ghana’s payment system has been modernised with the introduction of many electronic payment solutions which have made payment a lot more convenient, secure and faster.  Addition of the Gh QR code has increased the choices customers have to pay for goods and services. This will eliminate the several instances when businesses lose out because a customer has run out of cash. Currently, customers can pay from either their bank account or mobile money wallet through different channels such as MoMo pay, POS and now Gh QR code among others.

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