An Overview of the Central Bank of Nigeria Framework for Quick Response (QR) Code Payments in Nigeria

Posted on Jan 30, 2021

In view of the need to ensure the safety and stability of the Nigerian Financial System, encourage the use of electronic payments and nurture innovation in the payments system, the Central Bank of Nigeria (CBN) issued the Framework for Quick response (QR) Code Payments in Nigeria.

Quick Response (QR) Codes are a kind of matrix barcode representing information presented as square grids, made up of black squares against a contrasting background, which can be scanned by imaging device, processed and transmitted by appropriate technology. QR codes are frequently used to track information about products and often used in marketing, advertising campaigns and as a form of electronic payment.

These QR Codes enable the facilitation and transmission of payments information across payments infrastructure and enable mobile channels facilitate payments. The QR Code for payments in Nigeria shall be EMV ® QR Code Specifications. The CBN may however approve the implementation of any other QR Code Standard subject to meeting the prescribed security requirements within the CBN QR Code payment framework and demonstrates interoperability.

QR Code payments implementation in Nigeria shall support account, wallet, card and token based QR Code Operations. The implementation of QR Code for payment in Nigeria shall be based on Merchant-presented mode (where merchants present the QR Code for buyers in order to conclude payment transactions).

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