QIB, QPAY launch first Islamic ‘Point of Sale’, online payment gateway

QIB has officially launched Qatar’s “first Islamic Point of Sale (PoS) & Online Payment Gateway” solutions in collaboration with QPAY international, a Qatar-based Fintech company offering a wide portfolio of electronic payment solutions.
This solution has been introduced to serve QIB’s corporate and SME clients and support their business banking needs.
The Islamic PoS solution developed by Android smart technology will provide innovative, secure, and highly efficient payment processing services.
The new PoS supports contactless card transactions, E-Wallet, mobile PoS (mPoS), QR code scanner and online billing and settlement.
Mobile PoS (mPoS) is an innovative business solution, that services delivery-oriented businesses where the PoS is connected via Bluetooth to a smartphone that serves as a cash register (compatible with both Android and iOS), making card transactions portable.
The PoS has a built-in camera that allows merchants to scan barcodes, which eliminate the need for SME’s and corporate clients to have a separate barcode reader as the new PoS machine will serve this dual function.
The PoS solution accepts VISA, Mastercard, American Express, and UnionPay international cards.
Online billing feature will enable merchants’ real-time access to all transactions made on the PoS on an online platform eliminating the need for merchants to keep a log of all transactions made and flexibility in time.
The PoS is available amongst QIB’s existing corporates including SME and prospective merchants.
For businesses that require e-commerce solution to process payments online, QIB & QPAY are offering a quick and secure online payment gateway to enable them to serve their clients better, save time, and increase the source of revenue.
It also helps in reducing excessive costs involved in physical transactions.
By having an online payment gateway companies can give their clients an option to pay online at any time and make a hassle-free process.
It also helps in reducing the significant amount of paper.
QIB Corporate and SME clients can easily apply by submitting a request to their designated relationship managers, or visit QIB Corporate branch and fill the agreement form.
A technical team will be handling the setup, the training, and support related to setting up the PoS machines across different locations and the online payment gateway.
A 24×7 support team will always be available to support the businesses onsite and online.
Tarek Fawzi, general manager, QIB’s Wholesale Banking Group said: “With the launch of the first Islamic PoS & Online Payment Gateway Solutions reaffirms QIB’s position as the leading Islamic Bank in Qatar.”
“As Islamic banking is currently witnessing a new era, QIB wants to reassure its corporate and SME clients that they will continue to leverage Fintech based solutions to provide new services and products to provide them innovative solutions that are Shariah-compliant to help them grow their businesses,” he said.
Nebil Ben Aissa, CEO and founder, QPAY said: “QPAY is very proud to work with QIB in order to help Qatari small businesses to be aligned with Qatar’s 2030 vision and 2022 World Cup with a cashless electronic society. Our advanced Financial Technology (Fintech) systems in partnership with world payment leaders such as the Nexxo Network; enables us to implement, in Qatar, the latest innovation in mobile and e-payment services while promoting growth for a very healthy Qatari small business sector.”

Source: Gulf Times Qatar