NIBSS set to launch new payment solution

Nigeria Inter-Bank Settlement System Plc has said it is set to launch a QR Code-driven payment solution, in partnership with all financial service providers.

NQR payment solution is an indigenous Quick Response code platform being introduced by NIBSS on behalf of all financial service providers.   

NIBSS said in a statement on Wednesday that the solution would serve as a catalyst to boost financial inclusion while providing access to faster, easier and secure financial services to Nigerians.

It provides a “touch-free” option of receiving and making payments for goods and services by simply scanning to pay, according to the statement.

It said the NQR solution would be launched on Mar. 15 in a virtual event, and consequently rolled out nationwide.

“The NQR payment solution is about re-creating the Nigerian payment experience for businesses who are seeking new digital innovations to improve efficiency while providing a fast, easy and secure payment option, thus, we’ve created the NQR payment solution, a new ‘touch-free’ payment method to help create and offer better customer experience,” the Chief Executive Officer of NIBSS, Mr Premier Oiwoh.