"Universal GHQR: The most secure and most affordable way to pay"

" Universal GHQR: The most secure, most affordable way to pay \r\n\r\nAt last year\u2019s Mobile World Congress Africa in Kigali, Ghana Interbank Payments and Settlements Systems (GhIPSS) made Ghana proud with its \u201cfinancial inclusion triangle financial \u00a0inclusion triangle \u201c, which became the toast of the day during the launch of the State of Inclusive Instant Payments (SIIP) in Africa Report by AfricaNenda.\r\n\r\nGhIPSS\u2019 financial inclusion triangle is basically the effective integration\/interoperability between mobile money, banks and ez-wich, which is driving true financial inclusion in the country by ensuring that any and everyone can make and receive instant digital payments no matter where they are or what device or platform they use.\r\n\r\nAlso Read:\u00a0 GhIPSS Instant Pay adjudged most advanced in African \r\n\r\nAt the launch, GhIPSS CEO, Archie Hesse explained that they started by first integrating banks to make them interoperable on the back of the GhIPSS Instant Pay (GIP); then GhIPSS introduced a biometric payment system called e-zwich, which was also made interoperable, before moving on integrate the mobile money operators.\r\n\r\n\u201cWhat we then did was to close the triangle by making all the three platforms interoperable to ensure that no matter who is making payment and from wherever, they will be able to do so seamlessly and instantly,\u201d he said.\r\n\r\nAs if the financial inclusion triangle was not enough, Archie Hesse even wowed everyone some more when he said GhIPSS has since improved the platform by adding other services like Proxy Pay, Internet Gateway Payment, Request to Pay and the\u00a0 Universal QR Code dubbed GHQR , which can be linked to both bank accounts and digital wallets, with affordability as the key driving force.\r\n\r\n What is QR Code? \r\n <img class=\"wp-image-19986\" src=\"https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-1024x1024.png\" sizes=\"(max-width: 420px) 100vw, 420px\" srcset=\"https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-1024x1024.png 1024w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-300x300.png 300w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-150x150.png 150w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-768x768.png 768w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-696x696.png 696w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-1068x1068.png 1068w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code-420x420.png 420w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/Ghana-QR-Code.png 1100w\" alt=\"\" width=\"420\" height=\"420\" \/> Regular QR Code \r\nSimply put, a QR Code is a machine-readable code consisting of an array of black and white squares, typically used for storing URLs or other information for reading by the camera on a smartphone. So, unlike the normal point of sale (POS) device, where a customer would need to either swipe or insert their payment card and dial a PIN code into the machine and pay, a QR is contactless \u2013 you just scan with your normal smartphone camera, follow the prompts on your own phone and pay. This is the system popularly known as\u00a0 SCAN AND PAY.\u00a0 \r\n\r\nIn Kigali, it was the uniqueness of Ghana\u2019s Universal GHQR, a first of its kind in the world, that really got everyone talking and asking \u2013 how did you do it?\r\n\r\nThat is the one feat that has gotten central banks, payment platforms managers\/regulators and several other industry players across the continent trouping to GhIPSS and asking for their assistance to set up similar systems in their respective countries.\r\n\r\nFollowing engagements with GhIPSS,\u00a0 Kenya has recently launched an exact copycat version of Ghana\u2019s Universal GHQR \u00a0known as the KE-QR, and are poised to rally all merchants along to deploy it across the continent.\r\n\r\nSomalia has also recently followed suit Somalia has also recently followed suit \u00a0and launched an exact copycat version of Ghana\u2019s Universal GHQR, just like Kenya. Recently, AfricaNenda led a team of central bank and payments switches representatives on the continent to Ghana to familiarize themselves with Ghana\u2019s milestones in instant pay infrastructure, including the GHQR.\r\n\r\nInterestingly, even Malaysia has picked lessons from Ghana and also launched a Universal QR known as\u00a0 DuitNow QR , which is linked to both bank accounts and digital wallets. Malaysia has taken it to a level where all merchant are compelled to roll it out and they have even integrated with Indonesia and are in the process to integrate with other countries in that region.\r\n\r\n This is where it struck me, that very often we in Ghana, are served with precious stuff on a silver platter, but we are slow to take advantage of it until someone else takes it, runs with it and begins to enjoy the benefits, then we begin to talk about how we were the first to innovate and how others have adopted something from Ghana and made better use of it. \r\n\r\nUniversal GHQR has been here with us in Ghana since March 2020, more than three years. It was made in Ghana by Ghanaians and for Ghanaians. But the adoption has been very slow, and it makes one wonder whether we don\u2019t get it, or we just don\u2019t want it.\r\n\r\n Merchants must adopt it \r\n\r\n<img class=\"alignnone size-full wp-image-20090\" src=\"https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/IMG_0473.jpeg\" sizes=\"(max-width: 659px) 100vw, 659px\" srcset=\"https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/IMG_0473.jpeg 659w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/IMG_0473-300x200.jpeg 300w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/IMG_0473-629x420.jpeg 629w\" alt=\"\" width=\"659\" height=\"440\" \/>\r\n\r\nCurrently, just about\u00a0 130,000 merchants in Ghana \u00a0have adopted and rolled out GHQR as a payment option. The numbers from GhIPSS show that between year 2020, when it was launched, and last year, the adoption and usage has grown exponentially, but there is still a long way to go.\r\n\r\n In 2020, volume of transaction with GHQR was only 904 and that accounted for a meagre GHS98,336. But usage shot up significantly to 26,443 in 2021, with the value of transaction crossing GHS14.7 million. Then in 2022, there was gargantuan jump in usage to 958,774, accounting for about GHS638.6 million in value. \r\n\r\nBut there is still a big room for improvement.\u00a0The only way Universal GHQR really benefit Ghanaians on a mass scale is for\u00a0 merchants like big and small retail shops, restaurants, food joins, fuel stations, pharmacies, drinking spots, pubs, clubs and more, as well as service providers like hospitals, hairdressing salons, barbering shops, massage parlours, online retailers who take payment on delivery etc to adopt it and make it a payment option for their customers.\u00a0 \r\n\r\nThere is every reason for merchants to choose GHQR over all other payment channels. There are vast benefits for both merchants and customers.\r\n\r\n Affordability\u00a0 \u00a0\u00a0 \r\n\r\nCost and convenience are two critical factors that can stand in the way of the adoption of technology. This is why the stakeholders of Ghana\u2019s Universal GHQR have virtually eliminated any cost to both the merchant and the consumer.\r\n\r\nFor instance, a physical point of sale (POS) device costs a minimum of about\u00a0 US$500, \u00a0which is about the annual revenue of some small merchants. But generating a Universal GHQR, which is actually a digital\/electronic POS,\u00a0 cost absolutely nothing to the merchant . This is where GHQR is\u00a0 ensuring real financial inclusion , because it means even petty traders like coconut sellers, waatse sellers, petty traders, table-top vendors and more, can generate GHQR Codes and receive payment into their mobile wallets or directly into their bank accounts at absolutely no cost to them.\r\n\r\nWhat\u2019s more \u2013 the\u00a0 consumer paying via GHQR also pays absolutely zero service charge.\u00a0 Apart from MTN Ghana which charges its customers the usual 1% for every transaction, including GHQR, all the other stakeholders \u2013 banks, mobile money wallets and other digital wallets charge the consumer absolutely nothing. They absorb the fee on behalf of the consumer because they understand the need to drive adoption for an important channel like the GHQR. It is a shame that a major player like MTN has decided to charge customers for using that channel.\r\n\r\n Daily summary of transactions for merchants \r\n\r\nAgain, some banks have made it possible for payments via GHQR into a merchant\u2019s account or wallet to be summed up into a bulk for the merchant to know exactly how much sales they made in a day. But data on the individual payments are also available when the merchant wants that data for reconciliation purposes.\r\n\r\n Collateral for Loans \r\n\r\nIt is not a secret that in Ghana, it is very difficult for microbusinesses to secure loans to expand. But a merchant who receives daily payments into his bank account via GHQR can use the cash flow report from those transactions as a basis to get a loan from his bankers. Once the bankers can see the daily payments the merchant receives, it gives them confidence in the ability of the merchant to repay any loans.\r\n\r\n\u201cPhysical cash payments are not easy to track, but such digital payments via GHQR can easily be tracked by the bank and qualify such merchants for critical support when necessary. This is, indeed, another critical\u00a0 financial inclusion \u00a0opportunity made possible by GHQR,\u201d Archie Hesse said.\r\n\r\n How to get GHQR Code \r\n\r\nMerchants can always walk to any bank, particularly to their own bank and ask for a GHQR Code and link it to their bank account, mobile wallet or any other digital wallet of their preference. Once that is done, the merchant can either have it on his phone or print it out and display it in the shop or business premises for customers to scan and pay directly into the merchants bank account or digital wallet.\r\n\r\n Convenience for the consumer\u00a0 \r\n <img class=\"wp-image-20081 size-full\" src=\"https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/9e22d3ad-0067-4f76-9aa3-bf56af33b480.jpeg\" sizes=\"(max-width: 444px) 100vw, 444px\" srcset=\"https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/9e22d3ad-0067-4f76-9aa3-bf56af33b480.jpeg 444w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/9e22d3ad-0067-4f76-9aa3-bf56af33b480-259x300.jpeg 259w, https:\/\/www.techfocus24.com\/wp-content\/uploads\/2023\/06\/9e22d3ad-0067-4f76-9aa3-bf56af33b480-363x420.jpeg 363w\" alt=\"\" width=\"444\" height=\"514\" \/> Unique Universal GHQR \r\nBeyond the general features of a regular QR Code, there is something very unique about Ghana\u2019s Universal GHQR. Apart from scanning and paying, it also comes with a unique merchant code called\u00a0 TERMINAL ID \u00a0\u2013 a set of ten digits which a consumer, who does not have a smartphone to scan the code, can dial on his or her feature\/yam phone and make payment.\r\n\r\n\u201cIndeed, even if you have a smartphone but you find yourself at a place where there is no internet coverage or you have run out of data on your phone, you can still use the merchant code (TERMINAL ID) to make payments. So, for instance, if you want to pay with mobile money, and you enter your mobile money menu, you will find the GHQR option. Once you select it, it will give you the opportunity to enter the merchant\u2019s GHQR code and pay,\u201d Archie Hesse explained.\r\n\r\nAnother unique thing about Ghana\u2019s GHQR is that it allows the consumer to take a picture of a merchant\u2019s GHQR Code and save it in a phone\u2019s gallery, from where one can scan the code and pay.\u00a0 The system provides the option to scan from the phone gallery .\r\n\r\n Safe and Secure \r\n\r\nAccording to the GhIPSS CEO, the\u00a0 safety \u00a0of it is that whenever one scans to pay, the name of the merchant will pop up so the customer will be sure which merchant he\/she is paying to. There is no ambiguity about that at all.\r\n\r\nHe added that the system is designed to know which bank or payment service provider (PSP) generated each GHQR Code, so in case of any dispute, it is easy to find where the particular GHQR Code is coming from.\r\n\r\n Truly Universal \r\n\r\nThe Ghana-made Universal GHQR is the only payment channel in Ghana that allow merchants to receive payments from and into\u00a0 all forms of accounts \u00a0\u2013 bank accounts, mobile money wallets and other forms of digital wallets.\r\n\r\nThe physical POS devices only allow bank card and mobile money wallet payments. In fact, some even don\u2019t receive payments from some mobile money wallets like Zeepay and G-Money, neither do they receive payments from Hubtel, ExpressPay and other digital accounts. But Universal GHQR receives payments from all these platforms.\r\n\r\nIt is worth repeating that these unique features and obvious benefits of the GHQR is the reason other countries have copied it in toto and are rolling it out with speed and alacrity. It is time for merchants in Ghana to go big with GHQR and start making it a first choice option for their customers. If not for anything at all, for the simple reason that GHQR largely costs both the merchant and customer absolutely nothing to set up and use, it must be adopted widely."

"Universal GHQR: The most secure and most affordable way to pay"

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