Pay Sharp Sharp


About NQR?

NQR Payment Solution is a secure QR-code-based payments and collections platform designed for merchants and customers to receive and make payments for goods and servicesThis indigenous payment solution is powered by NIBSS for and on-behalf of the Financial Services Industry in NigeriaThe account based transaction platform will unify all available closed QR code schemes in the country for consistent user experience and acceleration of digital adoption.

Main Transaction Types

Features of NQR Platform

Key Benefits

Making Payment With NQR

Merchant presents NQR to customer at checkout

Customer opens mobile banking app to scan NQR

Customer visually inspects merchant details and inputs transaction amount if required

Customer authenticates transaction and merchant receives credit notification


TouchPoint & Use Cases


For More Details


NQR is a Quick Response Code and it is a secure platform for merchants and individuals to make and receive fast and instant payments.
Merchants/Business Owners on the NQR platform display QR Codes generated to receive payments at their locations for goods and services. Payers/customers select the NQR option on their banks mobile application and scan the displayed NQR Codes to make payment to the merchant. Merchants/Business Owners and Payers get instant notification of payment made.
Merchants/Business Owners, big or small, can use the NQR to receive payments from individuals and get instant value in their bank account. Individuals can use NQR to pay for goods and services at Merchants/Business Owners’ outlets.
Payers with smartphones, having signed up to their preferred bank’s mobile banking app, can access NQR via their bank’s mobile banking applica Merchant
NQR provides many advantages over existing e-payment solutions to both Merchants/Business Owners and payers. These include:
  • Instant value to merchants for all transactions.
  • Zero cost of on-boarding, infrastructure and otherwise, to the merchant.
  • Instant notifications to both merchants and payers of payment made.
  • Lower transaction fees across the various price bands
  • Little to no chargeback or dispute issues, as transactions are first authorized at the payer’s bank before being pushed to the merchant’s bank (push transactions)
  • A reconciliation and reporting portal for merchants.
Merchants/Business Owners should please contact their respective banks/acquirers for the applicable fees on NQR
Yes, but the transaction limits are determined or set by the payer’s bank.
NQR builds on the existing instant payment infrastructure. Payers should please contact their banks for immediate resolution of any and all issues regarding NQR payments.
Merchants/Business Owners should please visit their preferred bank to be set up as a merchant on NQR.
Payers can gain access to the NQR via the mobile banking application of their bank of choice. To set-up your bank’s mobile banking app, kindly visit your bank’s website or any branch of your bank for assistance.
Below is the image of a sample QR Code.
The NQR Payment Solution is securely embedded into the banks’ mobile banking application and thus inherits all the security features therein. Also, NQR is built around the universal EMVCO Security Standards. In addition, payers are protected by a secret 4-digit PIN used to consummate transactions and known to only the payer. Payers are also encouraged to activate the security features of their smartphones to prevent unauthorized access and immediately contact their banks and GSM Network providers to immediately disable the mobile banking access and GSM SIM in the event their smart phones gets lost or stolen.
  • NQR protects individuals from pandemic infections by physically touching third party interfaces that have been touched several times by other people.
  • As a contactless solution, NQR promotes cashless payments, so payers need not physically go to an ATM, touch the external public keyboard to withdraw cash
  • For merchants/business owners, the transaction fees of NQR are way lower than POS, so NQR becomes a cheaper means for receiving payments for goods and services
  • The instant credit of payments made by customers into business owners’ accounts also make NQR more attractive than traditional electronic payment channels, where Merchants/Business Owners receive credit for payments 24 hours after it has been made by customers during settlement
NQR is intended to promote micro-payments and drive the uptake of the Cashless Initiative amongst the general population. Also, NQR is intended to significantly reduce the entry barriers and cost of access to digital financial services, particularly amongst the under-served segments of the economy, thus promoting financial inclusion.
  • Payers visit the Merchants/Business Owners’ website or online shop to shop online. 
  • Upon check-out, payers select NQR as the mode of payment for goods selected into the shopping cart. A QR Code is dynamically generated and presented to the payer to scan and pay. 
  • The payer scans the presented QR Code and inputs authorization PIN to consummate the transaction (There is no need to input amount as amount payable is automatically added to the QR Code presented to the Payer to scan). 
  • Please note that the dynamic QR Code generated and presented to the payer is for one-time use and expires after the timeframe set by the acquirer. 
Yes. NQR reduces cost of doing business for the merchant/business owner, as the transaction fees, as low as N0.50K, is the lowest obtainable in the industry today.
No. NQR is for every Nigerian, regardless of the economic or social class
No. NQR is to complement existing alternative digital payment platforms and does not take away from, or compete with existing channels.
Merchants/Business Owners do not need phones in order to accept NQR for payment for goods and services by customers. The Merchants/Business Owners NQR code is visibly and conspicuously displayed at a location for customers to seamlessly scan and pay. Nonetheless, Merchants/Business Owners with smartphones can use the NQR Merchant app to monitor their transactions and get instant payment notifications on their phones via the NQR Merchant app.
Merchants/Business Owners can display their unique NQR codes for customers using a suitable NQR sign-holder (desk-top, neck-band and so on). The NQR Codes can also be displayed on Merchants/Business Owners websites, Instagram and other social media handles for online Merchants/Business Owners. The NQR Codes can also be embedded into newsletters, bills, product packaging and any other suitable interface that will allow customers to scan and pay seamlessly.
NQR helps the Nigerian financial ecosystem in a number of ways
  • It is a fast and efficient contactless mode of e-payments, thus providing convenience and safety to both the payers and the Merchants/Business Owners 
  • It promotes micro-payments and thus drives financial inclusion
  • It is an easy and cost effective means of transacting, which drives micro-payments and a cashless economy.
  • It reduces the cost of set-up and entry barriers for merchants/business owners, as there is no need for investments in hardware or software infrastructure.