BAGHDAD, Iraq, Sept. 26, 2020 /PRNewswire/ -- Qi Card today
announced that it has seen increases in two important metrics for
the company: in-app usage among current card holders and issuance
of new Master Qi Cards. By the close of 2020, Qi Card will have
five times more Master Cards in circulation than all other Middle
Eastern providers combined.
In the coming weeks, the company will release an official
projection of the volume of active cards anticipated at the close
of the year. The record-breaking number shows that Qi Card remains
the provider of choice for Iraqi citizens.
Additionally, Qi Card will disclose an upward trend in-app money
transactions conducted by current card holders as Iraqi citizens
leverage the app to receive income, pay bills and transact between
family and friends. This activity spotlights the invaluable service
Qi Card provides to keep payments and the economy moving while
social distancing measures preclude in-person cash
transactions.
Qi Card continues to meet the rising demand for all services
including payment processing, lending and in-app transactions.
About Qi Card
Qi Card is the leading electronic payment services solution in
Iraq, which employs biometric
identity as the cardholder verification method. Qi Card is operated
and managed by International Smart Card "ISC," the most successful
partnership in the history of Iraq. With its State Bank partners,
Al-Rafidain and Al-Rashed, it has completed domiciliation of more
than 7M citizens with its
multi-biometric payment scheme. In just over 18 months, ISC was
able to disburse 5T IQD in loans to over 800,000 Iraqi citizens. To
date, ISC has an ecosystem of 17,000 POS and more than 6,000
merchants using the Qi scheme to provide easy merchant funded
installment and other commercial activities. ISC issues and
acquires payment cards on behalf of fourteen affiliated banks in
Iraq. Through its principal
membership in Mastercard, ISC has now issued more than 1.8M Mastercard and is now the largest Mastercard
provider in Iraq.
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SOURCE Qi Card