Recent events pose no obstacles to fulfil obligations
BAGHDAD, Iraq, Sept. 21, 2020 /PRNewswire/ -- Qi Card wants to assure the public that after 13 years of serving the citizens of Iraq it remains strong and ready as ever to continue to meet its business obligations to partners and the millions of Iraqi citizens who can confidently rely on Qi Card products to safely move their money and conduct financial transactions. The company is operating normally and executing all payments.
Salaries, pensions and loan applications will continue to be processed and disbursed timely in the same way that Qi Card has delivered consistently for more than a decade.
Throughout this time, the professionals that comprise the Qi Card team are unwavering in their commitment to serve Qi Card's clients, partners, and customers. We remain focused on our mission to provide the citizens of Iraq with best-in-class payments solutions.
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.