Jaiz deploys NQR code to Abuja’s Fraser Suites
From right: Managing Director/CEO of Jaiz Bank, Hassan Usman, presenting the newly launched NQR platform to the Managing Director of Fraser Suites, M.G Nasreddin in Abuja, yesterday
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Mon Apr 19 2021
Jaiz Bank Plc, a non-interest bank in Nigeria, has deployed the newly introduced Nigeria Quick Response Code (NQR) to Fraser Suites in Abuja as part of the bank’s efforts to drive contactless payment solutions in the country.
A statement said the Managing Director/CEO of Jaiz Bank, Mr. Hassan Usman, presented the platform to the Managing Director of Fraser Suites, M.G. Nasreddin, yesterday.
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.
Obinna Chima writes on the benefits of the recently introduced Nigeria Quick Response Code in the country, which is expected to improve settlement, promote financial inclusion, help bring cash-related activities into the ecosystem for a better economy and reduce the cost of processing cash
There is no doubt that over the years, Nigeria has made noticeable progress in its desire to create a robust payment system through several reforms targeted at restoring confidence in the system.
Indeed, a sound payment system infrastructure, where operators and customers can transact business with confidence and convenience, trust and timeliness, underpins many of these reforms.