QNB, which is one of the largest financial institutions in the MENA region, has introduced WeChat Pay and AliPay+ to its existing range of payment options that are accepted by its merchant network in Qatar, making it the first banking institution in the country to offer such services.
As noted in the update, the new services come to emphasize QNB’s “leading” position in cards and retail payment acceptance, and highlights the banking institution’s ongoing efforts in providing convenient shopping and payment services to its clients.
These mobile payment solutions are a “powerful” additional tool for merchants wanting to attract and gain the loyalty of clients travelling overseas.
Adel Ali al-Malki, general manager QNB (Group Retail Banking), stated:
“QNB is the first bank in Qatar to introduce such innovative international wallets that are based on QR code payments, and which customers and merchants can use very conveniently”.
He also mentioned:
“This partnership will enable millions of customers to complete their transactions easily, safely, and securely with QNB’s wide merchant network. This will benefit retailers in many segments by giving those WeChat and AliPay+ users the option to pay using their smart devices.”
As mentioned in the announcement, QNB claims that it continues to lead the virtual banking and payments sector via its latest digital solutions and innovative products intended to suit the requirements of customers with the highest and most advanced levels of services, where it was the first bank to offer a wide range of smart payment options.
As noted in a release, QNB Group extends through its subsidiaries and associate companies to some 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 4,700 machines.”
As covered in March 2022, the Qatar Fintech Hub announced that it decided to host the fourth hackathon “to foster innovative ideas in next generation banking”
Applications had been open “until 2 March 2022.”
As confirmed in the announcement, pitches “take place on 10 March, and winners to be announced by mid-month” The update also mentioned that the Qatar Fintech Hub (QFTH), founded by Qatar Development Bank (QDB) to support the growth of the FinTech industry in Qatar, is “inviting all entrepreneurs and Fintechs from Qatar and around the world to apply to its fourth Hackathon.”
Under the theme “Next Generation Banking”, the Hackathon aims “to find solutions that cater to four main challenges; helping financial institutions increase revenue and reduce cost, helping financial institutions use data driven insights to create better products, enhance customer experience as well as provide innovative market-first payment solutions for a seamless sports fan experience in collaboration with Visa.”