The Government of Ghana will launch a new payment system known as the ‘Universal QR Code’ by March 24, 2020, to provide customers with an easy option for digital payment on business transactions.
The Universal QR Code is the world’s first interoperable payment acceptance solution and provides customers with an easy option for digital payment on business transactions, which reduces the technological challenges associated with operating cash-lite society.
It will allow merchants to receive digital payments without the use of Point of Sale devices.
Countries that recently introduced the platform include Singapore, India and China.
Ghana will, therefore, become the first country in Africa to embrace that payment system.
Vice President Dr Mahamudu Bawumia announced this at the opening of the maiden Mobile Technology for Development (MT4D) Conference in Accra on Tuesday.
The two-day event provides a platform for stakeholders within the financial, technology and development sectors in the country to deliberate, exhibit solutions and take stock of innovations within the digital financial ecosystem.
The event, which is on the theme: “Leveraging Mobile Technology to Drive Financial Inclusion,” is being organised by the Ghana Chamber of Telecommunications and the Financial Inclusion Forum Africa, a policy think tank in the financial sector.
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