The Ghana Interbank Payment and Settlement Systems (GhIPSS) has advised merchants- super markets, pharmacies, restaurants and hotels, to talk to their bankers to help them set up in order to provide the universal QR code payment services.

The move would enable customers who patronise them to be able to make payments via the QR codes.

Speaking in an interview with the Ghana News Agency, Mr Archie Hesse, the Chief Executive of GhIPSS, urged merchant outlets and any place that payments can be made to talk to their banks to enable them set up their QR codes.

He said electronic payment channels are very beneficial to shop owners and customers.

While electronic payments provide convenience and efficiency to customers, it also helps boost sales for businesses as it enables customers to spend beyond cash in their pockets, he said.

QR code, just like other electronic payment channels also ensures better accountability, as payments made goes straight to the bank account of the shop owner or merchant.

“Even if you are not in your shop, you can check how business is faring by monitoring the payments hitting your account and it is a great way to reconcile your sales even on the spot, from a remote location,” Mr Hesse said.

Mr Hesse said although GhIPSS is the national payment infrastructure provider rolling out the universal QR code, it is the banks and Fintechs that will set up the merchants, hence the call on them to talk to their banks

Ghana will launch the universal QR code in about two weeks, which will enable customers to scan the codes with their smart phones to make payment.

Customers who do not have smart phones can pay with their feature phones by dialing a code that will also be displayed at the shops or merchant's location.

A QR code, an abbreviation for Quick Response code, is a two-dimensional code made up of black and white squares that can be read by smartphone cameras, point of sale (POS) terminals or other devices. The QR code in a shop or any outlet can either be displayed on small stands or it could be a sticker posted on the wall of a shop, where customers can easily use their smart phones to scan and make payments.

Ghana will be the first country in Africa to launch the universal QR code. Being universal means that customers can make payment from any bank account or any mobile money wallet and the funds will be immediately transferred to the bank account of the merchant or shop.

QR codes are easy and cheap to set up and it is projected to be a game changer in Ghana’s drive towards a cash-lite economy.