Jaiz Bank Plc, the premier Non-Interest Bank in Nigeria has deployed the newly introduced Nigeria Quick Response Code (NQR) to ease transactions for customers and merchants.
NQR code is an indigenous payment platform designed by the Nigeria Interbank Settlement Scheme (NIBSS), to provide a reliable and enhanced payment experience with the aim of lowering transaction costs for customers.
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The bank, in a statement by the Head, Corporate Communication, Halima Ishaq, said the NQR code, being the newest addition to its e-Banking products, would be leveraged upon to ensure quick and convenient means of payments for goods and services.
Commenting, the Managing Director/CEO Hassan Usman, said the solution is one of the most innovative and existing products of the payment systems in Nigeria.
He said the deployment of NQR by the Jaiz is in line with its strategy of growing its retail business, deepening digital financial inclusion, and lowering transaction cost for its customers.
“The bank is deploying NQR payment system as part of its growing digital solutions to retain and attract merchants that require efficient but cheap payment solutions due to their relatively small profit margins,” Usman said.
NQR code enhances the scanning to pay mode, fast-tracks the process for receiving money in real-time, and facilitates quick payments, among others.
