Tuesday, 02 January 2024 12:17 GMT

Lulu Hypermarket Becomes Qatar's First Retail Chain To Accept UPI Payments Via QNB


(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: In a strategic move to further advance cross-border digital payments, Qatar National Bank (QNB) has enabled LuLu Hypermarket Qatar to become the first major retail chain in the country to accept Unified Payments Interface (UPI) transactions across all its stores.

The official launch ceremony was held at LuLu Hypermarket The Pearl Qatar, in the presence of India's Hon'ble Union Minister of Commerce & Industry, H E Piyush Goyal along with senior executives from both QNB and LuLu Hypermarket. The event marked a milestone in the growing financial cooperation between Qatar and India, particularly in advancing secure and seamless payment ecosystems that cater to the needs of Indian visitors in Qatar.

QNB has implemented QR code–based UPI payments across LuLu's extensive retail network, allowing Indian travelers to make instant payments directly from their bank accounts using their UPI-enabled mobile applications. The new capability ensures faster, safer, and more convenient transactions. With this service, Indian travelers can now enjoy a seamless shopping experience at LuLu Hypermarkets and other participating merchants across Qatar.

The UPI infrastructure is also being extended to key tourist destinations, retail outlets, and hospitality partners that have partnered with QNB -enhancing Qatar's attractiveness as a digital-friendly destination for millions of Indian visitors annually.

This initiative reflects QNB's ongoing commitment to supporting Qatar's National Digital Vision and advancing the nation's transition toward a cashless economy. By introducing UPI acceptance, QNB continues to pioneer innovative cross-border payment solutions that strengthen interoperability between financial systems and promote digital inclusion. QNB Cards and Payments business continues to lead the regional payment landscape with innovative, safe and secured payment solutions.

Speaking on the occasion Dr. Mohamed Althaf, Global Director of Lulu Group International said:“I am happy to see that India's UPI is now available in Qatar. UPI has gained remarkable global acceptance as a trusted and efficient digital payment platform, connecting millions of users worldwide. Its introduction here will not only benefit Indian visitors and residents but also support Qatar's vision of promoting cashless transactions and financial innovation”.

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