Nigeria Inter-Bank Settlement System Plc (NIBSS) is preparing to launch a QR Code-based payment solution in collaboration with all financial service providers.
NIBSS is introducing the NQR Payment Solution, an indigenous Quick Response code platform, on behalf of all financial service providers. This innovative solution will act as a catalyst for financial inclusion by allowing Nigerians to access financial services that are faster, easier, and more secure. It allows you to receive and pay for goods and services without having to touch them. All you have to do is scan to pay.
The NQR Solution will be launched in a big virtual event on March 15th, and then rolled out across the country. Because it is reliable, secure, and provides instant value to business owners, this innovation will unlock a wealth of additional benefits that will transform the way Nigerians choose to pay.
“The NQR Payment solution is about re-creating the Nigerian payment experience for businesses 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,” says Mr. Premier Oiwoh, CEO of NIBSS.
Nigeria Inter-Bank Settlement System Plc (NIBSS) was incorporated in 1993 and is owned by all licensed banks including the Central Bank of Nigeria (CBN). It commenced operations in June 1994.
To eliminate potential bottlenecks associated with inter-bank funds transfer and settlement, NIBSS has put in place modern world-class infrastructures for handling inter-bank payments.
To deliver world-class payment/settlement services, NIBSS has the best Information, Communication, and Technology infrastructure for Automated On-line operations, as well as effective information and data transmission security, practises.
NIBSS operations adequately mitigate operational and credit risks in funds transfers between financial institutions.
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