Come September 2020, the Ghana Universal QR Code system that will enable payments for goods and services by simply scanning QR codes displayed in selected shops, merchants and commercial vehicles nationwide, will roll out.

It follows the finalisation of processes for selected merchants and shops to deploy the Ghana Universal QR Code system for customers to send money from their bank and/or mobile money accounts to pay for goods and services procured.

he Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GhIPSS), Mr Archie Hesse, told the specialised programme on banking and related sectors, Banking & More, that live transactions on the QR code system launched in March this year had started on pilot bases, ahead of a full deployment in two months.

"A significant number of the banks and the financial institutions have actually customised it; they have tested with us and the system is working for them," he said in the second edition of the pre-recorded interview uploaded onto the YouTube channel and Facebook page of the Daily Graphic and the Graphic Business.

Delay

He said although the raging novel Coronavirus disease (COVID-19) had hampered the scheduled deployment of the system, interest in it remained high, with more than half of the banks linking their applications to the system.

He said so far, 13 banks had linked their banking applications and USSDs to the system to make it possible for their customers to use make payments to merchants, shop owners and other service providers.

"I personally spoke to some banks and they all had different strategies; some were going to go for all their corporate customers, some were concentrating on the pharmaceutical sector and some want to concentrate on the commercial vehicle owners, hairdressers and the likes.

"So, it is my belief that a month or two months’ time, we will start seeing live transactions."

Beyond being available to corporate customers and institutions engaged in big transactions, the CEO said the service would also be available to everyday persons, including commercial vehicle drivers.

"It will be interesting to see that all the taxi and ride-hailing drivers go for a QR code linked to their accounts such that they can have it at the back of their seats such that just before they drop a passenger, that passenger will be able to scan and pay directly into either the driver's bank or mobile money account to avoid all the cash that we are doing now," he said.

The genesis

Giving the history behind the development of the QR code system, Mr. Hesse said the government realised the need to develop a universal QR code for the country after a few banks had started deploying individual systems that were limited to only their customers.

He said when the idea was conceptualised, the mobile money interoperability and the Ghana Instant Pay systems came in handy as the two foundations that would allow merchants and other service providers to receive money from either bank accounts or mobile money wallets irrespective of the bank and the network.

Non-smartphone users

On the usage, he said although the QR code system was popular with smartphones, the company decided to develop a system that allowed non-smart phone users to also enjoy the service. This, he said led to the inclusion of a unique number that non-smartphone users could use to access the QR code services.

"So, the QR code we have now, you can either use it with your mobile money, or you can link it to your bank account.

"When it comes to the customer paying, whether he/she is paying from the bank account or from their mobile money wallet, it doesn't matter because in Ghana, we have mobile money interoperability as the foundation," he said.

Consequently, he said merchants could receive money through their bank accounts or mobile money wallets irrespective of what a payer was using.

Cost

Asked how much it cost to develop the system, the GhIPSS CEO said the availability of the mobile money interoperability and the Ghana Interbank Pay made it easier for the country deploy it.

As a result, he said the cost was comparatively lower, although he would not mention the exact figure.

Banking & More

Meanwhile, Mr Hesse, who has been the CEO of the GhIPSS since 2012, was the second guest on the Banking & More programme.

The programme is a prerecorded discussion that is broadcast on the YouTube channel and the Facebook page of the Daily Graphic on every Monday at 9am.

It is also available on www.graphic.com.gh and the Graphic NewsPlus, the digital version of the Graphic branded newspapers, including the Graphic Business.

The programme is meant to bridge the gap between banks and related service providers and their stakeholders through discussions that seek to shape policies and inform how the sector reacts to changes and concerns.

The Deputy Chief Executive Officer of the Ghana Association of Bankers, Mr John Awuah, was the first to appear on the programme.