Ghana’s Vice President, Dr. Bawumia has hinted that government is in the process of launching a Universal QR Code to leverage on existing technology to fast track the country towards a cashless society.
According to him, the Universal QR Code when launched, will allow businesses and traders to do away with Point of Sale (PoS) devices to make electronic transactions.
“Next month, Ghana will launch the Universal QR Code which will just leverage on the technology that we have built for electronic payments. Essentially, all businesses and traders will no longer need Point of Sale (PoS) devices but rather, their mobile phones will be sufficient for them to receive and make electronic payment transactions,” he explained.
The Vice President said this at the 3rd Ghana Business Chamber Awards night on Saturday, November 23 in Accra.
He added that Singapore, China and the United Kingdom have all launched their Universal QR Code’s last year and Ghana will become one of the first African countries to do so next month.
The Universal QR code, comprises of, squares of black and white blocks which can be scanned by smartphones with aim is to make it easier for businesses to accept electronic payments.