Doha - 24 July, 2019 – QNB Group, the largest financial institution in the Middle East and Africa, launched the full-fledged contactless cards on its credit, debit and prepaid products portfolio, while it has been actively deploying Point of Sale (POS) terminals that can process both contact and contactless transactions.
The move comes within the Group's strategy to enhance its leadership in the development of innovative digital banking solutions and to fully digitize its financial transactions.
With their latest add-on on contactless payment capability it opens the door to imagination and creativity allowing cardholders to transact safely using Chip enabled wearables at any terminal that are Near Field Communication (NFC) terminal in Qatar or overseas. Whether the cardholder chooses a watch payment accessory, a fitness – wristband or a keychain, the QNB contactless smart chip will fit perfectly into any lifestyle and allow the customer to experience seamless tap and pay transactions.
QNB is replacing its entire cards suite in its Qatar operation and becoming fully contactless enabled is supported by the state of the art instant card issuance capabilities that QNB has strategically invested in. With about 30 locations in Qatar, that has this capability; QNB expects a smooth and easy experience for customers to get their cards replaced.
The NFC technology allows customers to make transactions that are less than QR 100 by simply tapping it on the POS and gives QNB customers the convenience of paying without having to pull out a card, memorizing a PIN code or fumbling for cash. Moreover, with these new wearable payment products, QNB’s customers can enjoy greater convenience and speed. The innovative technology shares the same level of protection and security as a regular chip and PIN transaction.
QNB was the first Bank in Qatar to introduce seamless contactless payment services way back in 2012. Since then, QNB has been working on several fronts within the cards and payment services to leverage the alternative payment solutions and continue its dominance as the market leader in banking innovation.
Ms. Heba Al -Tamimi, General Manager QNB Group, Retail Banking, said: ‘QNB is the fore runner in introducing new payment technologies that are safe, secure and most importantly convenient for our customers. We continue to invest and innovate in technology to ensure that our customers’ demands and changing lifestyle needs are met. She added ‘QNB is aligned with the Qatar Government’s vision becoming a cashless society by further advancing electronic payments in the market. The introduction of QNB’s wearable payment products and leverage the contactless transactions is another testament to the vision where cardholders can use their cards for payments instead of using cash exclusively’.
QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 30,000 operating through 1,100 locations, with an ATM network of more than 4,400 machines.