Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has
partnered with Mastercard, a technology leader in the global payment industry,
to launch its latest smart payment solution for merchants. The new QIB SoftPOS
app turns an Android Smartphone into a Point-of-Sale terminal and enables
secure acceptance of contactless payments on the device using embedded
Near-Field Communication (NFC) functionality.
Through the QIB SoftPOS solution, powered by Mastercard,
merchants’ Android smartphones can accept contactless transactions from all EMV
contactless cards, and NFC-enabled phones with wallets such as Apple Pay,
Google Pay, or other NFC-enabled wearables like Apple watch, Garmin Pay or
Android watches.
The implementation of the new QIB SoftPOS solution instantly
allows merchants to accept payments on their smartphone device upon downloading
the application. Its benefits include improved scalability by providing easy
access to multiple users, and increased cost efficiency by eliminating the need
to purchase new hardware and leveraging the smartphones already in circulation,
making it a cheaper and simpler way for merchants to benefit from electronic
payments.
Commenting on the launch, Mr. Tarek Fawzi, QIB’s General
Manager – Wholesale Banking Group, said: “We are delighted to launch the QIB
SoftPOS solution, empowering merchants with an innovative and cost-effective
solution for their day-to-day business. The new solution will enable existing
and new businesses to accept contactless payments in an easy way as customers
are moving to digital channels faster than they have in the past. As Qatar is
keen on establishing a cashless society by 2030, the new QIB SoftPOS solution
will further contribute to achieve this vision.”
Mastercard has been rolling out its mobile acceptance
solutions as an affordable and convenient addition to the payment ecosystem as
part of its mission to promote financial inclusion and digital innovation among
micro, small and medium-sized enterprises. The company works as a trusted
partner of governments, banks and other financial organizations, fintech
companies and the wider business community to create opportunities for SMEs
worldwide.
Erdem Çakar, Country Manager, Qatar, and Kuwait, Mastercard,
said: “We are delighted to join forces with our partners at QIB as we mark the
next era in innovation and access for merchants across Qatar. Omnichannel
solutions like QIB SoftPOS allow businesses of all sizes to tap into the
limitless potential of the digital economy. We will continue to partner with the
public and private sector alike as we work towards our goal of connecting 50
million MSMEs globally to the digital economy by 2025.”
As the leading digital bank in Qatar constantly acknowledged
for the excellence of its offering, QIB is always at the forefront of digital
innovation, introducing top-of-the-line products and features that help elevate
the bank’s customer experience. The bank continues to launch multiple
first-to-market solutions in Qatar across its multiple channels and is the
first Islamic Bank to offer a Point of Sale (POS) solution and online payment
gateway, an electronic payments system designed to serve customers’ business
banking needs. QIB launched its Corporate App, offering customers full control
of their accounts to manage their corporate banking accounts, have instant
access to their relationship managers, and the ability to fulfil their banking
needs with no need to visit a branch. With the new upgrade of the App,
corporate customers can now request a cheque book, a Credit Card, an
e-statement, and a swift copy all through the Corporate App.
Merchants who want to request a new or additional POS
terminal, need to visit QIB’s POS hub office, submit the required
documentation, and sign an agreement to use the QIB SoftPOS. Merchants can
easily apply by visiting QIB POS Hub Office, Grand Hamad Street, Tel: 40342600,
44020020, Email: POS-Support@qib.com.qa
https://www.zawya.com/en/press-release/companies-news/qib-and-mastercard-launch-softpos-scceptance-solution-for-merchants-utv7svno