Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has recently been recognized with two new distinguished awards from Visa, the world's leader in digital payments, for its outstanding leadership in digital innovation.
QIB was awarded “First Visa Direct Launch in Qatar” and “First Digital only Credit Card Launch in Qatar” by Visa for its leading innovative customer experiences through digital payments, which continue to grow while customer’s needs are met in an efficient, proactive and secure way.
The first award recognizes QIB as the first bank in Qatar to launch the Visa Direct service, allowing its customers to transfer funds in near real-time to any Visa Credit, Debit or Prepaid Card issued by an international bank outside Qatar to a large number of selected countries in the world which is constantly being expanded. The service provides a simple and easy way to transfer funds using only the beneficiary’s name and the 16-digit card number avoiding any delays or extra charges since the transfer is direct from QIB to the beneficiary bank through the Visa network.
The second award recognizes QIB as the first bank in Qatar to launch a fully digital (virtual) credit card through its award-winning mobile banking application, enabling the cardholder to instantly add the card to Apple Pay, Samsung Wallet or Google Pay. Furthermore, the customer can immediately view the card details, such as 16-digit card number, expiry date and CVV, on the mobile banking application and carry out online transactions. Being a virtual card, there is no risk of damaging or losing the card. It also enhances the security and protects the card from fraudsters.
Commenting on the new recognition, Mr. D. Anand, QIB’s General Manager – Personal Banking Group said: “We thank Visa for these awards, which recognize our leadership in the payment solution industry with innovative first-of-their-kind digital products and services in the Qatari market. QIB strives to maintain its leadership, continuing our focus on innovation and digitization to strengthen our position as Qatar’s leading digital bank. We will continue to introduce first-to-market services and solutions to enhance our customers’ banking experience, enabling them to complete their transactions quickly and seamlessly from anywhere without a need to visit a branch.”
Dr. Sudheer Nair, Visa’s Country Manager for Qatar, said: “We are delighted to reward QIB for its innovative digital payments solutions that are in line with the evolving needs of its customers. QIB strives to bring innovative payment experiences to support growth of digital commerce in Qatar in a sustainable manner, and we are pleased to be recognizing their outstanding achievements.”