QNB, NPCI International Ink Deal To Enable QR Code-Based UPI Payments Across Bank's Merchant Network
Date
7/10/2024 2:07:46 PM
(MENAFN- Gulf Times) QNB has announced the execution of an agreement with NPCI International Payments Limited (NIPL) to enable QR code-based Unified Payments Interface (UPI) merchant payments across Qatar.
This initiative marks a significant milestone by facilitating UPI payment acceptance in Qatar through QNB merchant network, greatly benefiting Indian travellers visiting and transiting through Qatar.
This partnership will provide Indian tourists the option to use their preferred payment method across retail stores, tourist attractions, leisure sites, duty-free shops and hotels.
Local merchants in Qatar will also experience numerous benefits from this innovative payment solution. By adopting UPI payments, merchants can offer a faster and more convenient payment and checkout process, enhancing customer satisfaction.
This, in turn, will open up new opportunities for merchants to attract and serve the growing number of international travellers visiting Qatar, further boosting sales and business growth.
Commenting on this, Adel Ali Al-Malki, senior executive vice president, QNB Group Retail Banking said,“We are thrilled to embark on this pioneering journey with NIPL to bring UPI payments to Qatar, setting a new standard in innovation in the region. With this new digital payment solution, we are revolutionizing the way transactions are conducted, enhancing the travel experience like never before.
“We are confident that the strategic initiative will not only elevate the travel and hospitality sectors but also empower local merchants to thrive in a dynamic and increasingly digital marketplace.”
Speaking on the development, Anubhav Sharma, deputy chief (Partnerships and Business Development) at NPCI International said,“We are happy to collaborate with Qatar National Bank to bring UPI payments to Qatar. We believe that enabling UPI acceptance in Qatar will offer substantial benefits to large number of Indians visiting Qatar, simplifying their transactions and ensuring a hassle-free travel experience abroad. Additionally, Qatari merchants will greatly benefit from UPI, gaining access to a wider customer base and more efficient payment and collection processing.”
This partnership underscores QNB's dedication to leveraging advanced technology to enhance its service offerings and support Qatar's vision of becoming a global hub for tourism and commerce. By enabling QR code-based UPI payment acceptance, QNB is paving the way for a more connected and digitally inclusive future.
QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its subsidiaries and associate companies, the Group extends to some 28 countries across three continents providing a comprehensive range of advance products and services.
The total number of employees is more than 30,000 operating through 900 locations, with an ATM network of more than 5,000 machines.
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