Qatari bank to offer new bank card payment service for workers

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • QIIB, a bank in Qatar, said that it would offer workers who are based in the country a new salary receipt card that they can use for paying bills, making remittances and several other purposes.
  • A senior figure at QIIB argued that the move will improve the user experience and help to enhance a trend towards digitalisation.
  • However, the card, which is compliant with banking rules in the country, is only available to those earning below a certain amount of money.

A leading bank in Qatar has announced that it will extend the online money transfer services it offers to workers in the country.

QIIB said that it will give Qatar-based workers a new bank card that they can use to get their salary paid.

Employers can pay their workers with this card by using a mobile app or alternatively through online banking.

The payments made to the card take place in real time.

According to press reports, the new QIIB card is compliant with the regulatory framework set out by the country’s authorities.

For the end user, meanwhile, the benefits are also extensive.

The card is compatible with every cash machine in the country, while it can also be used to make payments at so-called ‘points of sale’ terminals.

In terms of bill payments, meanwhile, the card can be used for covering utility debts.

It can also be used for internet shopping.

As is common with Qatari payment services, the card is geared up for making international money transfer payments to friends and family in foreign countries.

Qatar is one of the world’s major countries when it comes to remittances given the high number of foreign or expat workers in the nation.

There are some restrictions when it comes to using the card though.

It is only aimed at people who are earning under 5,000 Qatari rial per year, a figure that is roughly equivalent to £1,000 or $1,300.

In a statement, Omar Abdulaziz Al Meer, who is the chief of business development and alternative channels at the bank, said that the move was part of a wider trend towards digitalisation.

“QIIB continues to provide the most suitable solutions for customers, which are in line with recent banking developments that focus on remote payment solutions and e-solutions that are easy, secure and fast,” he said.

Al Meer went on to make a call to customers in all categories to take advantage of the payment services on offer where possible.

He explained that the improvements for users would be immense.

“This is because we invest in these cutting-edge solutions to enhance our customers’ banking experience, and keep with the best international standards in different banking fields,” he said.

The online money transfer industry is forever adapting and evolving as a changing economy and world unfolds.

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