How to Generate QR Code for Receiving Payments
A QR code can make it easier for customers to pay a business without manually typing a long account number or other payment information. In Nigeria, QR-based payment solutions are used for merchant collections, and NIBSS operates NQR as an account-based QR payment and collection solution.
The exact steps for generating a QR code depend on the bank, payment service provider or merchant platform being used. A business should use the QR facility provided by its bank or an approved payment provider rather than generating an ordinary QR code that contains payment information without a proper payment connection.
What Is a Payment QR Code?
A payment QR code is a scannable code that can contain information needed to initiate or facilitate a payment. Instead of manually entering details, the customer scans the code with a compatible banking or payment application.
NIBSS describes NQR as an indigenous QR-code-based payment and collection solution for financial institutions, merchants and customers. It supports account-based payment and collection functionality.
Static and Dynamic QR Codes
There are important differences between static and dynamic QR codes.
A static QR code can generally be reused and displayed at a fixed location. A merchant may print it and place it on a counter, desk or wall.
A dynamic QR code can be generated for a specific transaction or payment request. NIBSS documentation distinguishes static NQR from dynamic NQR, with dynamic codes designed for transaction-specific use.
Who Can Use a Payment QR Code?
Businesses, merchants, professionals, organisations and other eligible payment recipients may use QR payment facilities where supported by their bank or payment provider.
The provider may require the recipient to have a business account, merchant profile or another eligible account before enabling QR collections.
How to Generate a QR Code
- Choose a bank or approved payment provider that supports QR collections.
- Complete the required merchant or account registration.
- Open the provider’s merchant or payment application.
- Locate the QR payment or receive-payment section.
- Select the account or wallet that should receive payments.
- Generate the QR code.
- Test the QR code using a compatible payment application.
- Display the code where customers can easily scan it.
What Information Can the QR Code Represent?
The information depends on the payment system. It may identify the merchant, receiving account, payment amount or other transaction information required by the payment platform.
A proper payment QR code is different from a generic QR code containing plain text. The payment provider must connect the code to a supported payment flow.
How Customers Pay With a QR Code
The customer generally opens a supported banking or payment application, selects the QR payment function and scans the merchant’s code. The application may display the recipient information before the customer confirms the transaction.
Customers should always check the displayed recipient and amount before approving payment.
How Businesses Should Display QR Codes
Place the QR code where customers can see it easily. Avoid covering or distorting the printed code.
If you operate a physical shop, the code can be displayed near the payment counter. Online sellers may also use supported digital payment QR functionality where their provider permits it.
Advantages of QR Payments
- Customers do not always need to type long account details.
- Payment can be initiated quickly.
- It can reduce errors caused by manual data entry.
- A static code can be displayed repeatedly.
- It can provide a convenient contactless payment option.
QR Payment Safety
Merchants should protect their displayed QR code from unauthorised replacement. A criminal could potentially place a different QR code over a legitimate one and redirect customers.
Customers should also confirm the recipient name shown by their payment application before approving a transaction.
Can You Generate a QR Code From Your Bank App?
Some banking applications and merchant platforms include QR receiving features. Others may require the merchant to register through a separate merchant service.
The correct procedure therefore depends on the bank or payment provider. Look for features such as “Receive Payment,” “QR Payment,” “Merchant QR” or similar wording.
What If the QR Code Stops Working?
Check whether the merchant account remains active and whether the QR code has been changed or deactivated. For dynamic QR codes, check whether the code has expired.
If customers repeatedly receive errors, contact the payment provider through its official support channel.
Frequently Asked Questions
Can a personal bank account have a QR code?
This depends on the bank and the QR product. Some QR services are designed specifically for merchants.
Can I print my QR code?
Yes, where the provider issues a reusable static QR code. Confirm that printing and physical display are supported.
Can a QR code contain a fixed amount?
Some systems can encode or generate transaction-specific amounts, while others allow the customer to enter the amount.
Is every QR code a payment QR code?
No. A normal QR code can simply contain text, a website address or other information. A payment QR code is connected to a payment system.
Conclusion
To generate a QR code for receiving payments, use a bank or approved payment provider that supports merchant QR collections. Register the receiving account, generate the QR through the provider’s system and test it before displaying it to customers. NIBSS NQR is one of the established QR payment frameworks available within Nigeria’s financial ecosystem.
