Aduragbemi Omiyale
By Aduragbemi Omiyale
The payments industry in Nigeria is about to be disrupted with the launch of a QR Code-driven payment solution by the Nigeria Inter-Bank Settlement System Plc (NIBSS).
The firm is planning to launch a local QR Code-driven payment solution next Monday in partnership with all financial service providers in the country.
A statement from the agency disclosed that at the grand virtual launch of the system, it would be deployed nationwide to unlock a wealth of extra benefits that will transform the way Nigerians choose to pay as it is reliable, secure and offers instant value to business owners.
“The NQR Payment solution is about re-creating the Nigerian payment experience for businesses who are seeking new digital innovations to improve efficiency while providing a fast, easy and secure payment option, thus, we’ve created the NQR Payment solution, a new ‘touch-free’ payment method to help create and offer better customer experience,” the CEO of NIBSS, Mr Premier Oiwoh, was quoted as saying.
The NQR Payment Solution is an indigenous Quick Response code platform being introduced by NIBSS on behalf of all financial service providers.
This innovative solution will serve as a catalyst to boost financial inclusion while providing access to faster, easier and secure financial services to Nigerians.
It provides a “touch-free” option of receiving and making payments for goods and services by simply scanning to pay.
The NIBSS is a company incorporated in 1993 but commenced operations in June 1994. It is owned by all licensed banks, including the Central Bank of Nigeria (CBN).
