QNB has become the first bank in Qatar to offer a Visa Ready mPOS (mobile point of sale) solution, enabling electronic payments through smartphone devices.
The newly-certified Swiftch mPOS solution, approved under the Visa Ready Program, is a secure device that connects to smart mobile phones via Bluetooth and is capable of processing card payments in the presence of the cardholder.
The Visa Ready Program is designed to enable hardware and software manufacturers to develop electronic payment devices, software and solutions in line with Visa requirements, which may vary by country. It also provides a framework for collaboration with Visa, paving the way for non-traditional payment partners, such as mobile device manufacturers, technology partners, wallet providers, and mobile network operators, to easily navigate the complexities of the payments ecosystem.
“By launching the Swiftch mPOS solution in Qatar, we are attempting to do our part in providing safer, more transparent money transaction options. This is not merely the launching of a new service, but, rather, a concrete step towards developing the financial sector at large by bringing a new solution to the market that will help us in the process of including more merchants in the financial system,” Mohanish Agni, head of merchant sales and solutions - Middle East and North Africa for Visa, said.
The mPOS Solution has shown potential in the international markets where merchants of all sizes can accept payments using their mobile phones, according to Heba al-Tamimi, general manager (retail) at QNB Group. “QNB’s mPOS solution will provide retailers offering home delivery, merchants at exhibitions, VIP services, transportation, and restaurants with a new payment channel that is easy to install,” she said.
In Qatar, mPOS acceptance is being pioneered by QNB in partnership with Swiftch. These mPOS terminals are EMV compliant – a global standard for inter-operation of integrated circuit cards and integrated card capable POS terminals, for authenticating credit and debit card transactions.
