The Ghana Interbank Payment and Settlement System (GhiPSS), a subsidiary of the Bank of Ghana, has recruited over 150,000 merchants on the GhanaQR platform.
According to GhiPSS, practically all banks, oil marketing companies, pharmacies, shops, and other merchants have used the GhQR platform, which was implemented in 2020.
GhiPSS began in the Greater Accra region and has now expanded to the Ashanti region, with plans to introduce the GhQR to additional regions in the future months.
GhQR is a novel and simple way for customers to pay a retailer by scanning a Quick Response (QR) code displayed on the merchant's mobile phone or dialing USSD codes presented on their phones.
The money is quickly sent to the merchant, exactly like when paying with cash.
Customers having bank accounts, wallet accounts, or card accounts from several banks and payment service providers across the country can pay using a single QR Code picture shown in a business.
To raise awareness of the platform, a Customer Activation Program was organized in Kumasi.
Kwaku Tetteh is the Ghana Interbank Payment and Settlement System's Head of Project Management Office.
"Looking back at where we came from, the Covid period, and now that we're opening up, we're seeing a lot of transactions," she says.
"It's being welcomed by all sectors of the economy, and it's being used by a wide range of merchants, including "As a result, we've decided to start spreading the word across the regions." We've seen a little of Accra, and now we're planning a trip to the Ashanti region, as well as exploring other areas.
"Nearly 150, 000 retailers have signed up for it, and a lot of people are excited about it."
To join the platform, simply go to your bank, telecom, or G Money and make a request."
Mr. Tetteh claims that the GhQR platform is a free service and that all residents should sign up to help speed up the payment process.
"There is no price for the individual who is paying because it is a free service."
"I'd like to urge Kumasians to embrace it."
The GhQR is an acronym for "Global Health Quality of Life Research."