BAGHDAD, Oct. 1, 2020 /PRNewswire/ -- Qi Card, the leading electronic payment solution and default national debit/credit card of Iraq, today announced a skyrocketing uptick in demand for additional points of sale (POS) kiosk systems throughout the region. The combination of new POS locations and the stark increase in usage of Qi Card's digital money transferring services are just two indicators of Qi Cards rapid growth in the region.
The increase in available POS kiosks comes at a crucial time, as citizens around the world practice social distancing measures. Today, Iraqi citizens now have nearly twice as many kiosks to visit, enabling not only easier access, but the ability to avoid crowding.
The record-breaking POS installations tie directly to a higher usage of Qi Card, which is by far the leading card and digital payment method for Iraqis as the country embarks on an economic digital transformation, moving away from cash and into a fintech-based model built for improving convenience and safety.
Qi Card is the first fintech provider to shift the Iraqi economy away from cash. An exponentially increasing number of businesses and consumers now utilize electronic payment methods due to enhanced security and ease of use. Qi Card's solutions offer consumers flexibility and stability to perform online, in-person and person-to-person transactions. Qi Card features the latest advanced fintech, biometric identification and electronic payment system technology.
Iraq is embarking on a financial revolution – a revolution of inclusion and access – and Qi Card is proud to be at the forefront of this movement.
To learn more about the Mastercard 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