22 March 2016
Doha - Ahlibank, a leading Qatari owned financial institution, and MasterCard have announced the launch of the first contactless Credit Card in Qatar.
As the first-of-its-kind contactless-enabled payment product in Qatar, Ahlibank's contactless Titanium MasterCard Credit Card can be used for low value purchases QAR 100 or less with just a tap, eliminating the need to sign or enter a PIN code. As the latest enhancement to the range of benefits that come with the Ahlibank Titanium MasterCard Credit Card, the new feature will provide customers with a faster and secure way to pay at point of sale (POS) terminals at retailers displaying the contactless logo.
McKechnie added: "Contactless payment usage has grown rapidly in other markets as customers feel the benefits in their everyday lives from making contactless payments at coffee shops, retailers and public transport, including metro services and taxis. I have seen from my visits overseas, especially the UK, how contactless payments are omnipresent and used by consumers looking for a fast and secure way to pay for goods and services. Today, the vast majority of journeys on the UK underground and bus network are now paid via contactless payments. Qatar, with its technology savvy customer base and forthcoming public transport initiatives such as Doha metro, is well positioned to see rapid adoption."
McKechnie added: "The Ahlibank Contactless Credit Card works with an embedded antenna in the card when paying for low value purchases QAR 100 or less through Near Field Communication (NFC)-enabled POS (Point of Sale devices) to make contactless payments in Qatar and overseas. There is no need to insert or swipe the card into the POS device or enter card PIN - simply tap or wave the card on the POS device for amounts QAR 100 or less, which means that it can replace cash usage for low value transactions. Already over 300 Point of Sale (POS) terminals are in operation in Qatar. Terminals are available at retailers in all the main shopping malls from coffee shops, food retailers and various retailers. We expect the number of terminals and contactless Credit Card usage to grow rapidly, as it has in other markets where contactless payments has been launched. Customers can visit any of our 16 branches in Qatar and apply for the new Contactless Credit Card."
MasterCard, General Manager - Gulf Countries, Raghav Prasad said: "As a global leader in innovation, MasterCard is at the forefront of driving the adoption of new and innovative payment solutions, and we are pleased to usher in a new era of payments in Qatar with Ahlibank, who have established a proven track record in innovation and customer focus in the Qatari banking market. Contactless payments allow consumers to make their purchases easily and conveniently, with all the safety that they've come to expect from a MasterCard product."
To learn more about the Contactless Titanium Credit Card, visit any of the 16 Ahlibank branches located across the country, call our 24/7 Contact Centre on 4420 5222 or visit www.ahlibank.com.qa
About Ahli Bank QSC
Ahli Bank QSC is a Qatari-owned financial institution that serves individual consumers, small businesses and corporate customers with a range of Corporate Banking, Treasury & Investments, Retail Banking, International Banking, Private Banking and Brokerage Services. Ahli Bank QSC aims to deliver unmatched convenience and personal, simple banking experiences that highlight its tagline, "With You".
Founded in 1983, Ahli Bank QSC has grown its client base rapidly, and boasts an integrated network of 16 branches in Qatar.
The Bank has a credit rating of (A2) from Moody's, (A+) from Fitch Ratings and (A) from Capital Intelligence and is listed on the Qatar Exchange (ABQK). More information can be found on the bank's website, ahlibank.com.qa
MasterCard (NYSE: MA), www.mastercard.com is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
© Press Release 2016