QNB Group, the largest financial institution in the Middle East and Africa, and Mastercard, a global technology company in the payments industry, recently signed a long-term agreement to initiate collaboration in regard to commercial credit cards and payment products. The signing ceremony took place at QNB in the presence of key executives from both organizations.
The agreement is set to bring about further advancements and greater benefits on the cards and payments front, specifically to QNB’s Corporate and SME Banking customers.
QNB commercial cards and payment solutions entitle its customers to manage their business more effectively with the most relevant product features with the highest security standards. The Bank recognizes that its strategic collaboration with local businesses is vital for achieving the Qatar National Vision 2030, which aims to drive economic diversification.
Commenting on the occasion, Mr. Yousef Mahmoud Al-Neama, Group Chief Business Officer, QNB, said: “We are very pleased with this new partnership with Mastercard, and we look forward to continuing delivering the most comprehensive and relevant payment products to our business community. QNB is fully committed to serving its customers with highly personalized, innovative and rewarding payment solutions. We thank Mastercard for the support provided, and we are certain that the partnership will deliver on its objectives.”
QNB’s commercial payment solutions come with highly customized merchant and card transaction control, giving companies greater control of the payment activities. Customers have access to rich and detailed information through the QNB Mastercard Smart Data platform, which they can use to bring greater efficiencies to their businesses. Other key benefits include the Corporate Liability Waiver, which protects corporations against any potential misuse of cards.
For his part, Mr. J.K. Khalil, Cluster General Manager, MENA East, Mastercard, said: “As a trusted technology leader, ecosystem developer and proud supporter of Qatar’s business community, we are delighted to join forces with QNB to empower businesses of all sizes with world-class payment solutions to help optimize their operations and improve credit and payment terms between large buyers and their suppliers. This milestone announcement builds on our ongoing commitment to support the government’s efforts to drive digital transformation, financial inclusion, and economic diversification.”
QNB Group, currently ranked as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, the Group extends to more than 28 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is 28,000 operating through 900 locations, with an ATM network of more than 4,800 machines.
