NIBSS PLC SET TO LAUNCH NQR PAYMENT SOLUTION FOR NIGERIA~NEWSEXTRA - News Extra Online

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Wednesday, 10 March 2021

NIBSS PLC SET TO LAUNCH NQR PAYMENT SOLUTION FOR NIGERIA~NEWSEXTRA




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

 NQR Payment Solution is an indigenous Quick Response code platform
being introduced by NIBSS on behalf of all financial service
providers. This innovative solution will 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.

 The NQR Solution will be launched on the 15th of March in a grand
virtual event, and consequently rolled out nationwide. This innovation
will unlock a wealth of extra benefits that will transform the way
Nigerians choose to pay as it is reliable, secure and it offer instant
value to business owners.

 According to the CEO of NIBSS, Mr. Premier Oiwoh, “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.”

***END***

ABOUT 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.

NIBSS has put in place modern world-class infrastructures for handling
inter-bank payments in order to remove potential bottlenecks
associated with inter-bank funds transfer and settlement.

NIBSS’ operation is supported with the best Information,
Communication, and Technology infrastructure for Automated On-line
operations as well as effective information and data transmission
security practices to deliver world-class payment/settlement services.
Operational and Credit Risks in funds transfer across financial
institutions are adequately mitigated by NIBSS operations.

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