Doha Bank is set to be the first bank in the market to officially launch VISA Commercial Pay (VCP) and the first lender in the CEMEA (Central and Eastern Europe, Middle East and Africa) region to introduce the VCP-mobile module, in collaboration with VISA for its corporate credit card clients.

This initiative aligns with the Qatari Government's vision of digitalising payments, enhancing electronic banking services, and advancing the shift towards a cashless society.

"These solutions aim to streamline payments for our corporate clients while augmenting security measures. Our strategic alliance with VISA has enabled us to roll out tailored solutions for our corporate clientele," said Dimitrios Kokosioulis, deputy chief executive officer, Doha Bank.

The launch of the Doha Bank Visa virtual corporate and purchasing card on the VCP reflects the bank's dedication to this longstanding partnership with Visa and its commitment to addressing the evolving payment needs of economy, he added.

With this launch, Doha Bank is well-positioned to meet the growing demand from large corporations, align with the government's objective to digitise all cash-related transactions, and strengthen relationships with their corporate and business clients.

VCP will boost cash flow, eliminate outdated manual processes, and provide a comprehensive business spend solution. It simplifies payment management, automates reconciliation, and securely delivers virtual card payment information through an intuitive interface.

The virtual corporate credit and purchasing card utilises tokenisation technology to replace the actual card number with a unique token during transactions. This feature enhances security and facilitates payments to suppliers and vendors through online platforms, mobile applications or digital wallets like Apple Pay and Google Wallet.

"The introduction of VCP marks a paradigm shift in how businesses manage payments, setting a new standard for convenience and security. As we progress, we remain dedicated to working closely with Doha Bank to further tailor our services to meet the growing needs of the local economy,” said Shashank Singh, Visa’s vice-president and general manager for Qatar and Kuwait.