Doha, 29 March 2022 – As the Official Bank Sponsor of this year's edition of the Smart City Expo Doha 2022, QNB Group, the largest financial institution in the Middle East and Africa, has unveiled its latest digital banking products and services at the bank's pavilion held during the two-day event organized by the Ministry of Communications and Information Technology (MCIT).
QNB Group unveiled new innovative payment solutions as part of its payment ecosystem and strategy for cross border payments with Ripple. Being the first to market through RippleNet, QNB enhances cross-border payments and expand its remittance service across multiple countries in a quick succession. This partnership delivers near real-time payments, to provide a unique and differentiated experience for QNB’s customers. QNB initially launched Ripple’s global financial network technology, RippleNet, with QNB Finansbank in Turkey as part of a group roll out, with plans to expand to other key remittance corridors to other large countries in the near future.
The Bank also revealed WeChat Pay, the premier mobile payment solution in China, to retailers in Qatar.
As the first bank to launch this service in Qatar, QNB affirms its commitment to support retail sector clients who will attract Chinese customers during the upcoming FIFA event. With WeChat Pay used by more than 1.2 billion monthly worldwide, QNB is pursuing its policy of supporting innovative payment acceptance options to its wide merchant network in the market to transact though a safe and secure payment option while promoting a cashless echo system.
QNB’s pavilion also displayed the QR Pay, a unique service that enables QNB customers to perform quick and safe contactless payment for their retail purchase using QNB Mobile Banking app by scanning the QR code displayed on the QNB POS terminal screen. QR Pay comes in response to the needs of customers and merchants alike for safe and convenient cashless payments, being the first of its kind in Qatar, following other innovative contactless payments offered by the bank like ATM QR access with QNB Mobile Banking, QNB Pay and Apple Pay. This new eco-system allows for simple, secure and innovative digital payments to ensure seamless customer experience.
Mr. Adel Al-Malki, General Manager Group Retail Banking Division explained, “We are extremely delighted to announce and introduce our innovative payment capabilities in a growing digital market with increasing adoption of advanced payment technologies such as Ripple’s cross border funds transfer technology, and QR Pay. QNB is committed to meet the needs of modern and innovative payment methods while reinforcing our regional leadership position in payments technology.”
During the two-day event, QNB displays its digital innovations to meet the evolving needs of customers and merchants alike. It also displays the latest banking solutions created in line with the changes imposed by the Covid-19 pandemic, including safe contactless ATMs transactions, self-service bankcard issuance capabilities, enhanced mobile banking and internet banking capabilities and WhatsApp services, as well as WeChat Pay and simplify payment acceptance, and demonstration on FacePay.
QNB Group, currently ranked as the most valuable bank brand in the Middle East and Africa, is proud to be the Official Middle East and Africa Supporter of the FIFA World Cup 2022™.
Through its subsidiaries and associate companies, the Group extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is 27,000 operating through 1,000 locations, with an ATM network of more than 4,500 machines.