Overview

The NQR is a contactless means of making payments by scanning a QR code from your mobile application. By so doing, we can skip using much of the usual infrastructure needed for electronic payments, like payment cards, networks, payment machines, and business accounts. Payments made via QR codes are secure as the data transferred through the QR code is encrypted.

NQR payment

The NQR is a basic module on our platform that enlists merchants and sub-merchants. Upon creatiing a sub-merchant account, the sub-merchant gets a unique QR code that can be used for different transactions.

This system is connected to the NIBSS service, so the rules for getting started and its operations follow the guidelines provided by the service provider, NIBSS.

Core players in the system

Merchant

A merchant is an entity at the highest level of operation. It can onboard as many sub-merchants as possible. In real life scenario, a merchant can be a business with many stores or centers. That means every store belongs to that business and they share a single bank account. Another example could be a business with fewer services. The business can be a merchant and individual services as a sub-merchant.

Sub Merchant

A sub-merchant is an entity directly under a merchant. They are subsets of the merchant and they receive payment for the merchant. Suitable examples have been sighted above for reference.