Veep launches QR Code & Proxy Pay System
Vice President Dr. Mahamudu Bawumia has under the auspices of the Ghana Interbank Payment and Settlement Systems Limited (GhIPPS), a subsidiary of the Bank of Ghana, launched Ghana’s Universal Quick Response (QR) Code and Proxy Pay system online due to the coronavirus pandemic.
The Vice President stated that we need to minimize the use of cash in the face of Coronavirus because banknotes, like anything we touch, are a transmission channel.
Ghana thus becomes the first country in Africa, and one of only a few countries in the world in the world to launch a Universal QR Code.
He underscored that the Universal QR CODE will make it possible for all merchants, service providers and institutions to receive payments from bank accounts, Zurich accounts, mobile money wallets or internationally issued visa or MasterCards instantly.
Any merchant can have a universal QR CODE: e.g. chop bars, food vendors, barbers, carpenters or masons, musicians, shoeshine boys, kebab or ‘Kofi brokeman’ sellers, market traders, trotros, taxis, churches, mosques, schools, funeral committees, wedding organisers etc.
He further urged every merchant or service provider to get a universal QR CODE from their bank, telco or a fintech as soon as possible.
He also urged every adult to get a bank account or a mobile money account immediately. The QR CODE will work with both smartphones and “yam” phones.
The Universal QR CODE provides Ghana with the vehicle to move towards a cashless economy. Let us all get aboard.