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Tribune News Network
Doha
Commercial Bank has announced the launch of contactless credit cards for the Qatari market, featuring new and vibrant designs.
Having successfully launched the contactless debit cards and the"acquiring acceptance" in November 2017, Commercial Bank has subsequently ramped up the contactless acquiring capability of its merchant network.
The network has paved the way for the bank to ensure a seamless and secure contactless transaction experience for its credit card customers.
The bank will be going ahead with a wide-scale issuing and acquiring of contactless cards in 2018. Approximately 200,000 contactless cards will be issued and more than 5,000 contactless-card accepting terminals will be installed at leading retail chains in Qatar by the end of 2018, the bank said in a statement.
Contactless cards are fast, easy and secure way to pay for purchases by simply tapping your card on a reader. A PIN is not required. Transactions are much faster compared to cash and PIN-based transactions, making contactless"Tap N' Pay" an important feature for supermarkets, fast food outlets, mass public transport, ticketing and sporting events in many parts of the world.
"Commercial Bank's new contactless payment feature is part of our value proposition to our customers and to support the government's efforts to encourage cashless payments in Qatar," said Commercial Bank Group CEO Joseph Abraham.
"As a leader in innovation, Commercial Bank aims to introduce new contactless payment options that will transform consumer experiences and contribute to developing a vibrant contactless payments environment in Qatar.
"This will also provide contactless convenience experience when our clients travel abroad so they have a seamless contactless payment experience both in Qatar and during their international travels," he added.
Contactless cards are a stepping stone to many other payment innovations that will make payment for goods and services more technologically advanced, convenient and secure.
Being one of the most innovative payment solution providers in Qatar, Commercial Bank has already embarked on a journey to continually give its customers more state of art payment options in the near future.
Amit Sah Commercial Bank EGM, and Head of Retail Banking said:"Contactless cards are a fast, secure and an extremely convenient way of making payments. Our successful partnership with Visa, MasterCard and leading retailers clearly demonstrates Commercial Bank's capabilities in implementing new technologies and our leading position in Qatar's payment space."
Roya Khajeh, Commercial Bank AGM and Head of Cards and Payments, said,"Contactless card payments simplify payments and will reduce cash handling in stores. Future payments will head in this direction and we are pleased that we are first to launch the complete ecosystem that includes contactless debit, credit and contactless POS terminals in Qatar. Over 300 merchant outlets in Qatar already have Commercial Bank's contactless POS ready for accepting contactless cards."
