NBE’s New QR Code Standard Spurs Amhara Bank’s Digital Leap with Aba QR

Amhara Bank has launched its innovative Aba QR app, designed to simplify digital transactions for customers and merchants. Officially unveiled by the bank’s CEO, Dr. Yohannes Ayalew, the app offers a user-friendly, cashless payment system that works seamlessly with any bank account or mobile banking app.

The Aba QR app enables customers to scan a merchant’s QR code to view detailed payment information such as product descriptions, quantities, and prices before making quick, secure payments directly from their mobile phones. This eliminates the need for cash while ensuring accuracy and convenience.

Merchants benefit from the app’s robust features, including the ability to update product details, prices, and service lists in real-time. They can also generate daily sales reports, manage cashier permissions, and provide instant digital receipts to customers.

“From now on, such a platform will continue being the lifestyle of many Ethiopians. It’s aligned with NBE’s standards and offers various solutions tailored to merchants,” said Befikadu Tchernet, Deputy Chief Digital Banking Officer.

Abeneazer Lakew, Chief Portfolio Officer at EthSwitch, emphasized the broader economic significance of QR technology: “The main goal of ET QR code is for the regulated financial institutions to have interoperable transactions with a single QR. This has huge implications for encouraging the economy, minimizing costs, and increasing the volume of transactions.”

The Aba QR app is part of Amhara Bank’s broader efforts to enhance digital banking in Ethiopia. With over 130 ATMs, 155 smart POS machines, and plans for a digital loan service, the bank is committed to providing innovative, time-saving financial solutions that cater to modern lifestyles.