Banks, telcos and other payment service providers regulated by the Central Bank of Kenya are set to issue Quick Response (QR) codes in a regulator-driven push to scale digital payments.
The CBK is expected to issue the Kenya Quick Response Code Standard 2023 today to guide the process of the QR code issuance by the payments agents to consumers and businesses accepting digital payments.
QR codes are an enhancement of standard barcodes and provide additional information, including data facilitating digital payments to mobile phones.
The codes have been tipped to create convenience for both merchants and customers whereby customers will be required to only scan the QR codes to make payments to merchants who will in part provide the codes at payment points.