Commercial Bank has announced that customers using their newly-released contactless credit and debit cards have made 100,000 taps at their favourite local and international outlets to make their day-to-day payments.
Within six months of launching contactless ecosystem of credit and debit cards and POS terminals to the Qatari market, Commercial Bank has reached the 100,000 taps milestone, demonstrating this new technology’s rapidly growing uptake.
Commercial Bank plans to issue approximately 200,000 contactless cards and increase the number of contactless accepting terminals in its merchant network to over 5,000 by the end of 2018 at leading retailers.
Contactless 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 if the value of the transaction is below QR100.
Transactions are much faster compared to cash, making contactless “Tap N’ Pay” an important feature for supermarkets, fast food outlets, mass public transport, and ticketing and sporting events in many parts of the world.
Amit Sah, Commercial Bank EGM and head of Retail Banking, said: “Commercial Bank has a leading position in Qatar’s payment space through implementing new and innovative technologies.
“Contactless cards are a fast, secure, and an extremely convenient way of making payments and 100,000 taps in just six months is a clear indication of customers’ acceptance and adoption of this easy to use customer friendly technology.”
Roya Khajeh, Commercial Bank AGM and head of Cards and Payments, said: “Contactless is the future in terms of how payments are made in Qatar and Commercial Bank is leading the way in creating a full contactless payments ecosystem of contactless credit, debit cards, and POS terminals. A huge thank you goes to our Tap N’ Pay customers for being the pioneers of this new technology in Qatar and reaching 100,000 taps to date.”
