BAGHDAD, Sept. 29, 2020 /PRNewswire/ -- Qi Card, the leading electronic payment solution and default national debit/credit card of Iraq, today announced it anticipates reaching the milestone of issuing more than three million Mastercard Qi Cards to Iraqi and other Middle Eastern country citizens by the end of 2021. Already the largest Mastercard provider in Iraq, this anticipated adoption will further strengthen Qi Card's market-leading position.
This projection and the increase reported in Qi Card usage is a reflection of an exciting trend toward a broader acceptance of a cashless economy in Iraq. The popularity of Master Qi Card among Iraq's 39 million citizens is the latest example of progress toward financial inclusion in the country through technology and partnerships.
As the first fintech provider to move Iraqi away from an unsecure, cash-based economy, Qi Card offers Iraqi consumers stable and sustainable commerce options. Users can refill their Qi Cards using point-of-sale kiosks, complete money transfers through the in-app service and confidently complete online and in-store purchases.
Qi Card's products and services are based on the principle of maximum protection, accessibility, ease of use and full transparency. The company boasts more than a decade of experience facilitating electronic payments and employs state-of-art biometric verification.
To learn more about Qi Card, visit www.qi.iq
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 3T 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.
SOURCE Qi Card