A revolutionary new digital payments service, myGhQR.com is set to transform the payments landscape and position Ghana among the top cashless economies of the world.
The service is developed by Hubtel, a leading enhanced payments service provider, and is set to launch in the coming days as a quick-no-contact and direct bank-to-bank payment service.
The service, which will be managed in collaboration with the Ghana Interbank Payments and Settlement Systems (GhIPPS) will allow users to make and receive payments from any bank app into their bank accounts directly via a GhQR Code. The service is designed to make all bank payments simple and interoperable without any physical contact.
GhQR is Ghana’s National Quick Response (QR) camera scan & pay service available on smartphone applications of all licensed commercial banks and financial technology providers. The GhQR payment gateway was launched in March 2020, by the Vice President Mahamudu Bawumia to add up to Ghana’s existing electronic payment channels as part of the larger cash-lite agenda.
Since its launch, several banks have rolled GhQR payment codes at various retailer and merchant points. The introduction of myGhQR.com will further allow any merchant of any size to easily generate, print, and display their own GhQR on any material to receive payment.
Customers that use bank apps can simply scan a GhQR code to pay an associated business or person.
The information available on the portal of the service indicates that the service allows anyone with a smartphone and a bank app to make payments to all categories of businesses, including even tabletop retailers and even food sellers once both the buyer and seller are registered on the GhQR Code.
In an internal communication to the staff of Hubtel, its Head of Products, Patrick Asare-Frimpong announced the upcoming launch as a major milestone for cashless payments in Ghana. Stating that “… for the first time I can pay anyone with a bank account by simply scanning a QR code from my bank app. This is simply a game-changer.”
The payment via this process is taken directly from the bank account of the buyer and paid directly into the seller’s bank account via their various bank apps on their respective phones.
This contactless payment process allows the buyer or the one making the payment to scan the GhQR Code on the device of the seller or receiver and follow the prompts to make payment.
Currently, the GhQR Code works perfectly with apps like the Hubtel App, as well as with Fidelity Bank, GCB Bank, Cal Bank, Ecobank, and GTBank Apps.