No more use of cash in shops or Mpesa as Kenyans will soon be able to pay for their goods and services by scanning a Quick Response code using their mobile phones.
The Central Bank of Kenya on Wednesday launched the QR Code standard 2023 alongside various players in the telcom and banking industries.
The QR Standard will see payment service providers such as Safaricom, Airtel Money and Pesa Flow, as well as banks such as KCB, Equity and Absa will issue QR codes to traders.
The customer will then confirm the traders details and initiate payment by entering their PIN.
Similar to money transactions, a customer will receive an SMS one the payment is complete and will be able to download the receipt.
The new product marks a major change in cashless payments in Kenya for traders who previously had to manually input different payment codes.
The QR codes will do away with errors which are common with digital payments .
The CBK says the standard is based on globally -accepted EMVCo QR code Specification.
It will be rolled out in a phased approach as PSPs, banks , and card schemes align their operations to its requirements.
Kenya joins South Africa, Singapore, Philippines, Jordan, Bahrain, Saudi Arabia among others who have implemented the QR code standard.
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