The Vice President Dr Alhaji Mahamudu Bawumia, on Friday, November 20, 2020 outdoored the Universal Quick Response (QR) code that was launched in March this year in line with the government’s digitization agenda to make Ghana a cashless country.
According to the Vice President, the QR code is an initiative to eliminate robberies and carrying huge sums of money for trading among others.
The QR payment system, he added, is the first in Africa and third in the world behind India and Singapore.
It could be recalled that on the 25th March this year, Dr Mahamudu Bawumia launched the QR code as part of government’s digital agenda.
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The code is a collaboration between banks, telecommunication networks, the Communications Ministry and major stakeholders like GHIPPS.
“Today is a historic day. Once again, we are moving to solve a major problem in our society, making it easier to access and pay for goods and services,” a delighted Dr Bawumia stated.
“Ours is a cash-based economy, which is very inefficient. Historically, many have been excluded from the financial system, but we have since been working to make Ghana’s economy a cash-lite, more efficient one, with the introduction of the Mobile Money Interoperability and today, Universal QR Code.
“A cash-lite economy has so many advantages. It promotes transparency, prevents robberies, helps the growth of e-commerce and fintech, and in this day of Covid 19, cash, which is a known spreader of the disease can be avoided by using the QR Code.”
Currently, about 13 banks and two telecommunication networks have signed onto the QR code app.
Dr Bawumia further called on individuals and merchants to liaise with their banks and telecoms for the QR code to enable them buy and pay for anything with ease.
This app works when a merchant is given a sticker to paste at where he or she sells for the buyer to scan with their code and pay with confirmation appearing on the vendor’s phone.