Jaiz Bank Plc, a non-interest bank, said it has embraced and deployed the newly introduced Quick Response Code to ease transactions for her customers and merchants.
It said this on Wednesday in a statement titled ‘Jaiz deploys NQR code for flexible payment solutions’.
NQR code is an indigenous payment platform designed by the Nigeria Interbank Settlement Scheme to provide a reliable and enhanced payment experience with the aim of lowering transaction costs for customers, the statement said.
The 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.
Speaking on the new code, the Managing Director/Chief Executive Officer, Hassan Usman, said, the solution was one of the most innovative and exciting products of the payment systems in Nigeria.
He said the deployment of NQR by the bank was 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.
It added, the NQR service was designed for merchants/individuals to receive or make payments for goods and services.