This initiative is in line with the Qatari Government's vision to digitise payments, improve electronic banking services, and promote the transition to a cashless society.
Doha Bank officials stated that its solutions are designed to simplify payments for corporate clients while increasing security measures. The launch of the Doha Bank Visa Virtual Corporate & Purchasing Card on the Visa Commercial Pay platform demonstrates its commitment to meeting the evolving payment requirements of the economy.
With this launch, Doha Bank is strategically positioned to cater to the increasing demands of large corporations, align with the government's goal of digitizing all cash transactions, and upgrade relationships with corporate and business clients. Visa Commercial Pay will improve cash flow, eliminate outdated manual procedures, and offer a comprehensive solution for business spending. It aims to simplify payment management, automate reconciliation, and securely provide virtual card payment information through a user-friendly interface.
The Virtual Corporate Credit & Purchasing Card employs tokenization technology, replacing the actual card number with a unique token during transactions. This feature not only increases security but also facilitates payments to suppliers and vendors via online platforms, mobile applications, or digital wallets such as Apple Pay and Google Wallet.
Doha Bank's previous partnership
In October 2024, Doha Bank announced its collaboration with Nium to offer real-time cross-border payment solutions for both customers and businesses in Qatar. The collaboration was among Nium's first agreements in Qatar, highlighting its dedication to optimising the international payments and transactions landscape.
Both financial institutions intended to introduce fast, reliable, and cost-effective remittance solutions in Qatar. By leveraging Nium’s expertise in secure cross-border payments and Doha Bank’s local market knowledge, the two organisations planned to introduce real-time payment services that improve efficiency and affordability in the local industry.
