TheCable

The Nigeria Inter-Bank Settlement System Plc (NIBSS) will, on Monday, launch a quick response (QR) code-driven payment solution in partnership with all financial service providers in the country.

The agency, in a statement on Wednesday, said the solution would provide a “touch-free” option of receiving and making payments for goods and services by simply scanning to pay.

“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,” the statement read.

The NIBSS said the new method would serve as a catalyst to boost financial inclusion while ensuring Nigerians have access to faster, easier and secure financial services.

Premier Oiwoh, chief executive officer (CEO) of NIBSS, explained that the solution was for businesses seeking new digital innovations to improve efficiency while providing a fast, easy and secure payment option.

“The NQR payment solution is about re-creating the Nigerian payment experience, ” NAN quoted Oiwoh to have said.

“We have created the NQR payment solution, a new ‘touch free’ payment method to help create and offer better customer experience.”

NIBSS added that the QR code payment system would be effective across the country.