CBK Launches QR Code Standard for Online Payments

The Central Bank of Kenya (CBK) has launched a QR code Standard to enhance online payments.

The standard will guide how payment service providers and banks that are regulated by the CBK will issue Quick Response (QR) codes to consumers and businesses that accept digital payments.

“The implementation of the Standard, and use of standardized QR Code-enabled payments, 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,” CBK Governor John Njoroge said.

“Previously, customers had to manually input different payment codes and numbers, hence creating friction and cumbersome payment processes that are prone to errors.”

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Njoroge added that the code will also promote inclusion by enabling institutions of various sizes and customer focus to increase adoption of digital payments.

“The Standard, which is based on the EMVCo QR Code Specification, has been developed through collaboration between CBK, Payment Service Providers, banks, card schemes, among others, “he added.

“The Standard will be rolled out in a phased approach as these players align their operations to requirements set out in the Standard and increase customer awareness.”

Kenya is joining other leading markets that have implemented a standardized approach to issuing QR codes for facilitating payments.