QIB partners with UnionPay International

Friday 27 January 2023 11:08 CET | News

Qatar-based financial institution QIB has partnered with card payments organisation UnionPay to enable contactless card acceptance on QIB POS and ATMs.

Following this partnership, the customers of UnionPay will have the possibility to make payments using their credit or debit cards on all the ATMs in Qatar and all of the POS terminals provided by the Qatar Islamic Bank. 

QIB’s aim through this collaboration is to improve the overall cardholder experience when it comes to cashless payments while offering their customers the benefits of making contactless transactions securely and efficiently.

Addressing the growth of demand for contactless and mobile payments worldwide, the partnership also offers clients the benefit of making cross-border payments and transfers as well. 

Qatar-based financial institution QIB has partnered with card payments organisation UnionPay to enable contactless card acceptance on QIB POS and ATMs.

QIB’s cashless society development strategy

Qatar Islamic Bank is a financial service company that provides its clients and customers with multiple products and solutions, aiming to create a cashless society as well. 

The partnership with UnionPay International is one of the steps the company has taken to follow this strategy of developing into a cashless payments industry. 

In December of 2022, QIB announced the launch of a payment plan on its mobile application that allows cardholders to pay some of their transactions in instalments. The feature is called Easy Payment Plan (EPP) and it is available on the QIB Mobile App. It was launched as a celebration of Qatar National Day. 

This feature allows customers of QIB Co-Branded, Revolve, as well as Charge Credit, to benefit from more flexibility when it comes to payments and transactions, by converting some of them into instalments. 

A month prior, QIB announced the launch of the Samsung Wallet, a new secure mobile payment service for credit, debit, and prepaid cardholders that own and use Samsung devices. 

Samsung Wallet is a mobile payment platform that enables the shift towards digital wallets and offers a safe e-payments avenue worldwide. It works at any store in Qatar, as well as abroad, and it accepts contactless payments. Clients also have the possibility to pay in their application and online by using the Samsung Wallet at checkout, without needing to enter the credit or debit card details again. 

UnionPay International’s partnerships and services

China-based card payment organisation UnionPay International is a company that offers its clients multiple services, such as the UnionPay mobile QuickPass, QR Code payments, credit, debit, commercial, theme, premium, and prepaid cards, as well a mobile application that enables them to make contactless and cross-border transfers securely and efficiently. 

UPI’s QR code payment service was brought to Europe by UnionPay’s partnership with Germany-based digital payments processing company epay, in December of 2022. 

The collaboration enabled the QR code payments service to be settled in Europe for Chinese tourists and other UnionPay card users from all over the world. The deal also reinforced epay’s payment aggregators status in Europe, with the ability to offer European merchants access to a larger customer base through UnionPay, which provides card acceptance in multiple countries and regions. 

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Keywords: partnership, online banking, online payments, cross-border payments, contactless payments
Categories: Payments & Commerce
Companies: QIB, UnionPay
Countries: Qatar
This article is part of category

Payments & Commerce




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