Qatar’s high-tech banking system looks capable of absorbing the pressure during the World Cup

The FIFA World Cup Qatar 2022 provides an excellent opportunity to further promote the digital transformation of the state banking system and build on the achievements made during the period of the Covid-19 pandemic, which marked a major change in the field of digital banking services, in favor of the adequate infrastructure available to banks in a context of rapid digitization of services.
Against this backdrop, Qatar Central Bank (QCB) has unveiled a series of initiatives over the past few months to enable secure, fast and affordable digital payments planned for the World Cup.
Among the most important initiatives, the QCB issued the first license in the country to provide digital payment services through “Google Play”, as well as numerous guidelines that regulate and authorize various payment activities in the country.
According to the QCB, the new services include issuing e-wallets through the Qatar Mobile Payment system and its uses (merchant services and local money transfer), in addition to offering international money transfers through the e-wallet, through a bank or licensed exchange shop in Qatar.
In late August, the QCB issued the country’s first license for digital payment services to Ooredoo Money and iPay by Vodafone Qatar.
QNB Group CEO Abdullah al-Khalifa said, “The group has developed and dedicated a comprehensive plan over the years to develop its technology services to better serve the mass of visitors in a distinctive and seamless manner during this tournament.
We strive to deliver a successful edition of the FIFA World Cup, which is why we have dedicated all of our services, digital products and workforce to ensure that we mark our presence with excellence throughout the tournament.
This includes dedicating our ATMs as the sole provider of ATMs in and around the eight stadiums along many other key locations which are expected to accommodate large numbers of fans and spectators. »
Al-Khalifa also highlighted the launch of FIFA-designed special credit cards for all its customer segments, where it was the first bank to launch FIFA-branded special cards aimed at sharing the fun of the football event. the most prestigious with its customers. .
QNB was also the first to launch a special prepaid card design which included Laeeb, the official mascot of the FIFA World Cup Qatar 2022, where all digital prepaid cards were updated to the iPhone Wallet app. , which stores all customer cards on the iPhone.
This provides customers with a sense of exclusivity and uniqueness while sharing the thrill of football.
For his part, the CEO of the QIIB, Dr. Abdulbasit al-Shaibi, noted in previous statements to the Qatar News Agency (QNA) that the QIIB had organized a number of events and contributions in conjunction with the tournament, including a special issue of credit and debit cards, and a number of promotional offers; noting that QIIB trains its staff to deal with visitors during the tournament in a manner that reflects the true image of Doha as a forum for civilized interaction between people and nations in one of the major capitals of world sport.
He added that the QIIB has also formed a team to provide internal support during the World Cup and beyond, in case of emergency.
Al-Shaibi pointed out that QIIB has been investing heavily in banking technology for a long time, as digital transformation is an urgent necessity to improve the operating environment.
He reiterated that QIIB is working to improve the digital transformation process, confirming that the bank is opening a very unique digital branch with a modern design in Msheireb Downtown Doha.
The CEO of QIIB added that the bank has enhanced the role of technology and relied on digital services as part of a comprehensive transformation, in line with the best international standards adopted in the banking sector, expressing confidence that the bank will continue its upward march in relation to different indicators, taking advantage of all the positive market factors, following strict criteria in the field of risk assessment and encouraging leading initiatives in the field of innovation .
The Commercial Bank has also launched a premium range of special World Cup credit cards with special discounts and promotions at various participating hotels, restaurants, malls, cafes and sports stores.
In a related context, the Qatar Islamic Bank (QIB) has launched a special edition of the “Visa Signature” credit card, the Visa debit card and the Visa prepaid card, to celebrate this historic event.
QIB has partnered with Visa as part of its preparations for the event, and to strengthen its commitment to the local community, by providing its customers with exclusive cards offering bonuses and special promotions, for a smooth banking experience and enriching, enhancing the customer experience with one of the largest banks in Qatar by offering exclusive benefits to Visa cardholders.
Visa Signature offers free and unlimited access to more than 1000 airport lounges worldwide, discounts at luxury hotels and restaurants, “Absher” points with each use while customers have the option of paying a minimum of 5% per month on purchases and cash withdrawals.
Plus, Visa Signature credit cardholders can take advantage of free travel insurance, purchase protection, and an extended warranty.

About Ruben V. Albin

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