BY CHARLES STENNETT
The Central Bank of Solomon Islands, (CBSI) and the Australian government have partnered to formally announce the commencement of the development of a Unified Quick Response, QR Code Standard Project, following the endorsement of Phase 2 of the initiative.
The Project’s objective is to establish a single, nationally recognized QR code standard that enables consumers and businesses to seamlessly make and receive payments using a standardized QR code, improving user experience for merchants and customers.
A statement from CBSI said the commencement of the project is an important milestone in creating an interoperable retail payment infrastructure for Solomon Islands.
This reflects the strong support of key stakeholders – including CBSI, financial institutions, other financial service providers, the Solomon Islands Government and the private sector – and their shared confidence in the project’s potential to strengthen the country’s digital payments ecosystem.
Speaking during the announcement ceremony, CBSI Governor Dr Luke Forau acknowledged Australia’s support.
“I would like to thank the Australian Government for the partnership and technical assistance in ensuring the project’s technical readiness, stakeholder collaboration and engagement to move the project forward,” Mr Forau said.
He also thanked stakeholders for their confidence, while emphasizing that the achievement of successive phases will rely on sustained collaboration between a wide range of stakeholders, including commercial banks, mobile money operators, payment service providers, private sector, and relevant government agencies.
In support of the initiative, Australia’s Deputy High Commissioner, Andrew Schloeffel emphasised the importance of the project.
“Supporting a common language across banks, mobile money and payment providers is part of Australia’s commitment to supporting inclusive economic growth, helping speed up payments, reduce queues and make everyday transactions easier in Solomon Islands.
“The Australian Government is pleased to support this initiative, with its commencement representing a critical juncture for interoperable digital payments,” Mr Schloeffel said.
According to CBSI, Phase 2 of Solomon Islands’ unified QR code will include the co-development of technical standards and business rules with key stakeholders in the financial sector.
Photo credit: CBSI
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