More merchants are being set up to offer GhQR as Ghana Interbank Payment and Settlement Systems (GhIPSS) and its partners step up public awareness about the payment service.

According to the latest figures, about 41,700 merchants offer GhQR, with most of the merchants located in Accra and lesser number in Kumasi. Of this figure over 17,000 were set up between January 2021 and now. This indicates that more merchants are being set up this year than in the previous year.

GhQR is an electronic payment channel that enables customers to scan displayed QR codes with their smart phones and pay, or dial displayed USSD codes with their phones to make payment. Ghana’s QR code for payment is universal which means that any customer whose bank or payment service provider offers the service can use it wherever it is displayed.

Many institutions including banks and payment service providers have gone life and enabling their customers to make payment via the GhQR. All the institutions have the service available on the USSD or short codes while about half of them have the service also available on mobile apps. With all the big banks, and most telcos providing GhQR for their customers, the focus of GhIPSS and its partners is to increase the number of merchant locations that get set up to offer the service.

Chief Executive of GhIPSS, Mr. Archie Hesse noted that the fact that over 40 percent of the merchants offering GhQR were set up in less than three months of this year, is very encouraging. He said GhIPSS will continue to work with financial institutions and payment service providers to ensure more merchants offer the service.

Mr. Hesse praised GhQR as a very convenient way of making and receiving payments and urged merchants to contact their banks to help them set up. He said the public education will also be intensified in other regions of the country.

The GhIPSS CEO added that a lot of efforts will also be directed at encouraging the general public to patronize the service and reduce the use of cash.
GhQR is easy and far less expensive to set up and run, making it very suitable for many small businesses including shops, pharmacies, commercial transport operators, restaurants, fashion and fashion accessory providers among others.

Many people including President Akufo-Addo have suggested strongly that GhQR could enable Ghana to be among the first African countries to go cashless.