ACAMB urges banks to adopt QR code payments for stronger fintech ecosystem

The Association of Corporate Communication and Marketing Professionals in Banks has called on Nigerian banks to deepen the adoption of digital payment channels, including QR code payments. The move is part of efforts to strengthen the country’s financial technology ecosystem.

The call was made during a courtesy visit to the Nigeria Inter-Bank Settlement System in Lagos. Both institutions discussed payment infrastructure resilience, industry collaboration, and communication during service disruptions.

According to a statement from ACAMB on Sunday, there is a need for stronger coordination within the banking sector. This is to ensure accurate and timely public communication, especially during system downtime incidents.

Leading the delegation, ACAMB President Jide Sipe said the association is working to create a platform where banks can engage more effectively on industry developments and challenges.

“We want to make sure there is a space where banks engage, share ideas, and ask relevant questions about how to grow the industry as well as manage its challenges,” Sipe said.

He added that ACAMB has been engaging stakeholders across the financial services sector, including the Chartered Institute of Bankers of Nigeria, to identify areas for improved collaboration and communication. Sipe noted that recent system downtime events highlighted the importance of accurate industry communication. He proposed a stakeholders’ conference connecting corporate communications heads directly with NIBSS.

Responding, NIBSS Managing Director and Chief Executive Officer, Premier Oiwoh, said reliable digital payment infrastructure is central to financial inclusion and economic growth.

“That is why one of the key ingredients that shape our philosophy at NIBSS is our commitment to financial inclusion. Seamless and effective payment has always been at the core of what we do, and one key path to achieving this is ensuring a payment system that works. This will, in return, optimise revenue security, better customer experiences, and faster time-to-market, which in turn facilitates economic growth,” Oiwoh said.

He said NIBSS prioritises system stability and trust in digital payments by monitoring transaction “velocity” to anticipate system failures and redistributing load across environments to prevent downtime.

“As we all know, customers expect payments to be fast, accurate, and flexible,” he said.

Oiwoh described the NIBSS Instant Payment system as a foundational innovation in Nigeria’s digital payments space.