QIB launches first Visa Direct remittance service in Qatar

(MENAFN- The Peninsula) The Peninsula

Doha: Qatar Islamic bank (QIB), Qatar's leading digital bank, has announced the launch of a new remittance service, Visa Direct, in partnership with Visa, the world's leader in digital payments. The first-of-its-kind solution in Qatar will allow QIB customers to transfer funds to overseas Visa cards in near real-time.

Visa Direct is a cross border fund transfer service that allows QIB savings and current account holders to transfer funds from their banking accounts to overseas Visa debit, credit, or prepaid cards through the QIB Mobile App. Initially, Visa Direct service will be available to over 25 countries in Mena region, Europe and Asia with plans to include many more countries across the globe in the near future.

The new remittance service is designed to simplify QIB customers' remittance experience allowing them to enjoy near real-time fund transfers to friends and families overseas crediting the fund directly to the recipient's Visa card. Customer will only need to enter the Visa card details of the beneficiary and make the transfer in a fast and secured manner.

Visa Direct is a single gateway for QIB to reach global beneficiaries for payments. The new remittance service leverages QIB's award-winning digital banking platform, as well as Visa's extensive global reach offering an innovative approach in global payment convenience.

D. Anand, QIB's General Manager – Personal Banking Group said:“We are pleased to be partnering with one of the world's largest electronic payment networks to launch Visa Direct. The new remittance service enables customers to have an easier and simplified banking experience in line with our bank-wide digital transformation program”.

He added:“QIB is committed to implementing new and innovative digital solutions for a fast, safe, and secure banking experience and plans to include more countries to the Visa Direct service periodically”.

Dr. Saeeda Jaffar, Visa's Group Country Manager for GCC said:“We are proud to partner with QIB to launch Visa Direct services for the first time in Qatar. With the rise of digital payments, this partnership strives to bring digital-first solutions and we will continue to provide services that meet our consumers' increasing expectations for seamless and secure ways to move money globally – and with Visa Direct, they have access to our billions of cardholders worldwide and the backing of our trusted global network for fast and secure transfers. We are excited to partner with QIB and support their ambitions to lead the banking industry with the latest digital solutions”.

With the launch of Visa Direct, QIB customers have now more options to transfer money. They can use the regular bank to bank transfers locally or internationally, Instant money transfer through Western Union, Direct Remit Service through bank corridors to selected countries or even Peer to Peer Payment with the mPay Digital Wallet. QIB Mobile App gives full control to customers to choose the most convenient way to make transfers based on their needs through simple and straightforward steps and they can always track and follow the transfer status through the App.

The all new QIB Mobile App features easy-to-use English and Arabic interfaces, secure and smart biometric login, self-registration, smart shortcuts, and a combo navigation panel that allows customers to find all the offered products and services in simple steps and get the help they need quickly within the App for a seamless and intuitive customised experience. All transactions can now be completed within a few steps and customers will reap the benefits of the advanced and secured data systems to avoid filling or re-entering pre-registered information.

MENAFN15122021000063011010ID1103365141