NAIROBI, May 3 (Xinhua) -- The Central Bank of Kenya (CBK), in partnership with commercial banks and payment service providers, on Wednesday launched the country's standard quick response (QR) code to increase usage of digital payments.
Patrick Njoroge, CBK governor, told journalists in the Kenyan capital of Nairobi that the Kenya Quick Response Code Standard 2023 will bring practical benefits to businesses and customers.
"Customers will now be able to make digital payments in an easy, fast, convenient, and secure manner using QR. Previously, customers had to manually input different payment codes and numbers, hence creating friction and cumbersome payment processes that are prone to errors," Njoroge said.
He noted that QR codes are machine-readable codes consisting of an array of black and white squares containing information that provide an alternative option for initiating and accepting digital payments made by customers at various points of sale, such as supermarkets and other outlets.
He revealed that the QR Code Standard will also promote inclusion by enabling institutions of various sizes and customer focus to increase the adoption of digital payments.
According to Njoroge, the standard aims at promoting customer convenience, security, and interoperability among different payment service provider platforms. ■
