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Ghana has become the first African country to implement a universal rapid response code (QR Code) payment system.
The innovative technology was overtaken in Accra on Thursday when Vice President Bawumia demonstrated its practical implementation at the popular Aunti Muni Waakye in Accra.
The universal QR code payment system allows a customer to pay for goods and services to a merchant from a mobile wallet or bank account directly from a mobile phone, and the vice president used his QR code to pay for the waakye in one process. simple. , which lasted less than a minute.
The success of the QR code abroad makes Ghana the first African country to implement this extraordinary digital technology.
Speaking to the media after the hands-on demonstration, Dr. Bawumia described the digital payment innovation as historic and a game changer in the government’s quest to digitize the economy and also transform Ghana into a cashless society.
“Today is a historic day because we are solving a major problem here in Ghana. It is also historic because Ghana will be the first country in Africa to launch a Rapid Response (QR) code payment system,” said Dr. Bawumia.
“We are not only the first country in Africa, we are also, as far as I know, the third country in the world to launch a Rapid Response Code after Singapore and India. However, Singapore and India, their QR codes only serve customers The Ghana QR code will suit both banking and non-bank customers, that is, those who use mobile money and have bank accounts. Therefore, in this sense, the Ghana QR code is unique and is the first of its kind in the world. “
“So we have to be legitimately proud as Ghanaians that we are using technology to solve a problem that exists in our country, and in doing so we are truly leading the world.”
Highlighting the importance of the universal QR code, Vice President Bawumia noted that its implementation, along with mobile money interoperability, will include those who have historically been excluded from the financial system.
“Once again, we are moving to solve a major problem in our society, facilitating access and payment for goods and services.”
“Ours is a cash based economy, which is very inefficient. Historically, many have been excluded from the financial system, but since then we have been working to make the Ghanaian economy more efficient and more efficient with the introduction of Mobile. Interoperability of money and today, universal QR Code “.
“A cashless economy has so many advantages. It promotes transparency, prevents theft, helps the growth of electronic commerce and fintech, and on this day of Covid 19, cash, which is a known polluter of the disease, can be avoided by using the QR code.
Dr. Bawumia revealed that so far 13 banks have implemented the QR Code, while telcos Vodafone and Airtel-Tigo have also joined, and MTN is about to do so.
He praised the collaborative efforts of the Ministry of Communications, the Bank of Ghana, the Ghana Interbank Payment and Settlement Systems (GhIPSS), telecommunications companies and fintechs for coming together to achieve another digital milestone by the government.
When you go to the merchant with a universal QR code, as long as you have a bank account of any financial institution or a mobile money account of a telecommunications company, you will be able to pay the merchant regardless of the bank or telecommunications company that you acquired. the merchant or service provider instantly. “
How the QR CODE works
After you used, paid for your waakye through the universal QR code, Vice President Bawumia provided a detailed explanation of how it works.
“The universal QR code will bring interoperability between telcos and between all banks and between banks and telcos. They will all be on the same platform and this is the game changer,” said Dr. Bawumia.
“When you go to the merchant with a universal QR code, as long as you have a bank account of any financial institution or a mobile money account of a telecommunications company, you will be able to pay the merchant regardless of the bank or telecommunications company that the merchant has acquired or instant service provider. “
“Any merchant can have it, whether you are a bar operator, barber, carpenter, musician, bricklayer, shoe shine, khebab vendor, kofi breachman vendor, market merchant, trotro, taxi driver, churches, schools, mosques and even a funeral donation committees, you can get the QR code. Basically any business can get a QR code, “explained Dr. Bawumia.
“What is very interesting is that any phone owner, be it a smartphone or a Yam (feature phone) phone can use the universal QR code. So it doesn’t limit people to just smartphones because we have a lot of people use feature phones or Yam phones. “
The universal QR code is the latest government digitization success after the successful implementation of mobile money interoperability as well as the digitization of many government services such as the paperless system at ports and online services for driver’s licenses. , passports, business registration, among others. much others.
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