Ethiopia Adopts Standardized and Unified QR-code System for Digital Payments
Temmy Samuel
Ethiopia Adopts Standardized and Unified QR-code System for Digital Payments
The apex bank of Ethiopia, National Bank of Ethiopia (NBE), has announced a directive mandating all payment service providers (PSP) to adopt standardized and unified QR code systems for digital payments. In other words, NBE released a directive’s statement on X , formerly Twitter, that all payment service providers in Ethiopia must provide a QR codes that align with the apex bank’s standard for merchants to collect payments from their customers. The unified QR code systems will allows merchants to accept payments from any bank or payment service provider with a single QR code. That’s to say, customers can pay merchants from any bank account scanning the standardized QR code. With this, transactions are much easier and digital payment adoption in the country is encouraged. This unified and standardized NBE’s QR code is a unique, single and interoperable payment protection. It’ll be used to replace the various QR code systems currently in use in the country. According to NBE, it will be eff…
About the author
Temmy Samuel
He is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently chasing a BSc degree in Accounting.
