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 (GhIPSS) 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 making 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 for 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 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.
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 table-top retailers and even food sellers once both the buyer and seller are registered on the GHQR Code.
In an internal communication to 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 be able to pay anyone with a bank account by simply scanning a QR code from my bank’s 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 sellers 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 the payment.
Currently the GHQR Code works perfects with apps like the Hubel app, as well as with the Fidelity Bank, GCB Bank, Cal Bank, Ecobank, and GTBank apps.