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Ghana will join the likes of Singapore and China in rolling out a universal Quick Response (QR) Code system for payments that will enable even small and petty traders to have easy means of getting paid, Vice-President Dr Mahamudu Bawumia has said.
Dr Bawumia disclosed this when he delivered a lecture on Ghana’s Economic Formalisation and Digitisation agenda at his Alma Mater, Simon Fraser University (SFU) in Vancouver, Canada on Monday, 22 July 2019.
With the QR Code system, Dr Bawumia said cheques and point of sale devices will ultimately be phased out with time.
He said, indeed, if developing economies are to remain competitive and be counted in this Fourth Industrial Revolution, then they must embrace the digital revolution.
Earlier, Dr Bawumia had a brief meeting with African and Caribbean students at the SFU and shared some past and present experiences.
Source: Ghana/ClassFMonline.com
