The Nigeria Inter-Bank Settlement System Plc (NIBSS) on Wednesday said it would be launching a Quick Response (QR) code driven payment solution in partnership with all financial service providers.
NIBSS said in a statement that the NQR code platform was an indigenous payment solution introduced by NIBSS on behalf of all financial service providers.
It said the solution would provide a “touch-free” option of receiving and making payments for goods and services by simply scanning to pay.
According to the statement, the NQR solution will be launched on Monday in a virtual event, and consequently rolled out nationwide.
“This innovation will unlock a wealth of extra benefits that will transform the way Nigerians choose to pay as it is reliable, secure and it offers instant value to business owners,” it said.
The Chief Executive Officer at NIBSS, Mr Premier Oiwoh, said “the NQR payment solution is about re-creating the Nigerian payment experience.”
He noted that the solution was for businesses seeking new digital innovations to improve efficiency while providing a fast, easy and secure payment option.
“We have created the NQR payment solution, a new ‘touch-free’ payment method to help create and offer better customer experience,” Oiwoh said.
NIBSS said that the innovative solution would serve as a catalyst to boost financial inclusion while providing access to faster, easier and secure financial services to all Nigerians.