Commercial Bank has announced that it will issue 200,000 contact-less credit cards featuring new and vibrant designs in Qatar this year.
Having successfully launched the contact-less debit card and the acquiring acceptance in November 2017, Commercial Bank has subsequently ramped up the contact-less acquiring capability of its merchant network which has paved the way for the bank to ensure a seamless and secure contact-less transaction experience for its credit card customers.
The bank will be going ahead with a wide-scale issuing and acquiring of contact-less cards in 2018 with approximately 200,000 contact-less cards to be issued and more than 5,000 terminals accepting contact-less cards to be installed at the leading retail chains in Qatar by end- 2018.
Contact-less cards are a fast, easy and secure way to pay for purchases by simply touching your card on a reader, and a PIN is not required. Transactions are much faster compared to cash and PIN-based transactions, making contact-less “Tap N’ Pay” an important feature for supermarkets, fast-food outlets, mass public transport, ticketing and sporting events in many parts of the world.
Commercial Bank Group CEO Joseph Abraham said, “Commercial Bank’s new contact-less payment feature is part of our value proposition to our customers and to support the government’s efforts to encourage cashless payments in Qatar. As a leader in innovation, Commercial Bank aims to introduce new contact-less payment options that will transform consumer experiences and contribute to developing a vibrant contact-less payments environment in Qatar; this will also provide contact-less convenience experience when our clients travel abroad so they have a seamless contact-less payment experience both in Qatar and during their international travels.”
Contact-less cards are a stepping stone to many other payment innovations that will make payment for goods and services more technologically advanced, convenient and secure.
Being one of the most innovative payment solution providers in Qatar, Commercial Bank has already embarked on a journey to continually give its customers more state-of-the-art payment options in the near future.
Commercial Bank executive general manager and head (Retail Banking) Amit Sah said, “Contact-less cards are a fast, secure and an extremely convenient way of making payments. Our successful partnership with Visa, MasterCard and leading retailers clearly demonstrates Commercial Bank’s capabilities in implementing new technologies and our leading position in Qatar’s payment space.”
Commercial Bank assistant general manager and head (Cards and Payments) Roya Khajeh said, “Contact-less card payments simplify customer payments and will reduce cash handling in stores. Future payments will head in this direction and we are pleased that we are first to launch the complete ecosystem that includes contact-less debit, credit and contact-less POS terminals in Qatar.
“Over 300 merchant outlets in Qatar already have Commercial Bank’s contact-less POS ready for accepting contact-less cards.”
