FirstBank partners with NIBSS to drive digital payment solution
Leading financial institution, First Bank of Nigeria Plc. has announced its partnership with the Nigeria Inter-Bank Settlement System Plc. (NIBSS) on its Nigeria Quick Response (NQR) payment solution.
Speaking in a statement, the bank’s Chief Executive Officer, Dr. Adesola Adeduntan said that NQR is an innovative payment option implemented for all financial service providers.
According to him, it is designed to promote quick and fast transactions by scanning codes on users’ mobile phone devices.
The Bank’s CEO said: “The initiative is accessible on the FirstBank’s payment infrastructure as the NQR code can be used to make payments through one’s FirstMobile App. And it is also available for the merchant in facilitating their business activities.
“The touchpoint and use cases of the NQR payment solution include convenience stores, supermarkets, shopping malls, pharmacy, ride-hailing/taxi payments, bus fares, tolling booths payments, vending machines, e-commerce sites, online (Instagram) businesses amongst many others.”
Explaining further, Dr. Adeduntan stated that the initiative reduced cost for merchants and banks in delivering instant value for person to business and person to person transactions by simply scanning to pay.
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