BAGHDAD, Iraq , Oct. 13, 2020 /PRNewswire/ -- Qi Card, the leading electronic payment solution and national debit/credit card of Iraq, today announced that over the course of 2019, more than more than 21 million transactions were processed on Mastercard Qi Cards. This milestone represents increasing adoption by Iraqi citizens who are using the digital payment method to reach new heights of financial inclusion and prosperity. Qi Card offers users secure and seamless electronic payment capabilities.
Qi Card recently announced that it will have issued more than three million Mastercard Qi Cards by the end of 2021. Rapid adoption of the card benefits Iraq's 39 million citizens, especially those that are homebound or unable to shop for goods and services in person. Qi Card is leading the transformation of Iraq's historically cash-based society into one that is embracing the security and flexibility of digital transactions.
The increasing number of purchases, and the recently announced increase in in-app transactions are proof that Qi Card is helping to keep the Iraqi economy moving forward and providing opportunity for its citizens.
To learn more about Qi Card's capabilities and benefits, 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 8M citizens with its multi-biometric payment scheme. In just over two years, ISC has been able to disburse 4B USD 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 2.4M Mastercard and is now the largest Mastercard provider in Iraq.
SOURCE Qi Card