With the Visa B2B Connect platform, corporates are set to be able to send money more conveniently and securely from Qatar to several markets globally through QIB, thus supporting simplified business operations.
The collaboration underlines QIB’s commitment to working with its partners to deliver trade across various international payment corridors by offering customers cost-effective and reliable money transfer services.
Commenting on the news, representatives from QIB mentioned that, considering the current business environment, companies require a banking partner that can ensure efficient transactions. By working with Visa, the bank seeks to equip businesses with optimal cross-border payment solutions and, by utilising technology and digital advancements, it can process account-to-account transfers promptly. This is intended to support businesses in staying competitive and contributing to the broader economic environment. QIB is set to be among the first Islamic banks in Qatar to adopt Visa B2B Connect, with the move complementing its existing outbound money transfer solutions and platforms, augmenting cross-border money transfer and payment services worldwide.
Furthermore, Visa underlined that Visa B2B Connect facilitates secure and improved global money movement solutions for financial institutions and their corporate clients. The service advances the Qatar government’s efforts to scale digital innovation in the financial and business sector. By working with QIB, Visa seeks to provide additional benefits to the local market and the wider Middle East region. The new network aims to offer predictability and transparency to customers, as well as key insights for strategic decision-making and business planning.
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