Qatar adopts high-tech banking systems during FIFA World Cup

Qatar Central Bank (QCB) launched a range of initiatives to allow for secure, fast and cost-effective digital payments lined up for the FIFA World Cup Qatar 2022.

The FIFA World Cup Qatar 2022 presents an excellent opportunity to advance the State’s banking system’s digital transformation and build on the strides made during the COVID-19 pandemic period, which marked a significant shift in the area of digital banking services. This can be done by taking advantage of the adequate infrastructure present in the State’s banks, which has assisted in achieving rapid digitalization of services. 

Among the most prominent initiatives was QCB issuing the first license in the country to provide digital payment services via “Google Play”, along with many guidelines that regulate and license various payment activities in the country.

The new services, according to QCB, include the issuance of e-wallets through the Qatar Mobile Payment system and its uses (merchant services and local money transfer), as well as providing international money transfers through the e-wallet, via a bank or an exchange shop licenced in the State of Qatar.

Ooredoo money and iPay by Vodafone Qatar were issued licenses for digital payment services by QCB in august.

Qatar national bank (QNB) launched a special prepaid card whose design included Laeeb, the official mascot of the FIFA world cup Qatar 2022. These digital prepaid cards were updated on the iPhone wallet application which saves all the customer cards on the smartphone giving a sense of uniqueness and exclusivity.

Qatar International Islamic Bank (QIIB) is training its staff to handle visitors during the world cup which will show the true picture of Doha as a forum of civilised interactions between nations and people and one of the important places of global sports.

For the FIFA World Cup Qatar 2022, The Commercial Bank (CBQ) has also introduced a premium line of special-issue credit cards with discounts and exclusive promotions at various participating hotels, restaurants, shopping malls, cafes, and sports equipment stores.

Qatar Islamic Bank (QIB) introduced a unique edition of the “Visa Signature” credit card, visa debit card, and visa prepaid card.

The bank partnered with Visa, to bolden its commitment to the local community by offering its customers special cards that offer bonuses and promotions.