The Ghana Interbank Payments and Settlement Systems (GhIPSS) this morning launched its GhQR and Proxy pay electronic platforms.

Ghana's Interoperable QR Code solution (GhQR) provides a standardised specification for interoperable payments across the country.

The solution provides a centralized switching service at GhIPSS for QR code payments by all participants; allowing customers of Financial Institutions, Fintechs, Mobile Money Operators to either receive or make payments by scanning a quick response code on their smartphones.
 
GhQR will enable merchants to receive payments from various consumer funding sources such as bank accounts, cards, mobile money wallets and electronic/virtual wallets.

Proxy service is an overlay service on the GhIPSS Instant Pay service. It allows a customer of a financial institution (Individual or Corporate) to register an alias/proxy identifier ( phone number) as part of their account details.
    
Payments made to the proxy identifier will be credited to the linked bank account in the domiciliary financial institution

Proxy Identifier can be linked to a single account number in one financial institution only.

Watch the playback of the launch below: