Industry Leaders Urge Banks to Embrace QR Codes for Faster, Safer Payments

The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has called on Nigerian banks to accelerate adoption of QR code payments. In a recent visit to the Nigeria Inter-Bank Settlement System (NIBSS) in Lagos, both groups explored ways to strengthen payment infrastructure and improve communication during service disruptions. ACAMB President Jide Sipe proposed a regular stakeholders’ conference to ensure verified updates replace speculation when systems go offline. He stressed the need for a unified platform where banks can share ideas, drive innovation, and manage industry challenges together. NIBSS CEO Premier Oiwoh highlighted the critical role of reliable digital payment platforms in driving financial inclusion and economic growth. He praised the NIBSS Instant Payment solution and the National Payment Stack for enabling secure, real-time and cross-border transactions. Both organisations urged banks to roll out the NQR-powered QR code system for instant settlement, real-time notifications and lower transaction costs. Early adopters like UBA have already onboarded merchants, showing how simple scanning can replace cash for everyday payments.

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