Baghdad, Iraq, September 26, 2020 / PRNewswire / – Qi Card today announced that it has seen an increase in two important metrics for the business: the use of the app by current cardholders and the issuance of new Master Qi cards. By the end of 2020, Qi Card will have five times as many Master Cards in circulation as all other providers in the Middle East combined.
In the coming weeks, the company will release an official projection of the volume of active cards expected at the end of the year. The record number shows that Qi Card remains the provider of choice for Iraqi citizens.
In addition, Qi Card will reveal an upward trend in in-app money transactions made by current cardholders, Iraqi citizens using the app to receive income, pay their bills, and make transactions between family and friends. . This activity highlights the invaluable service provided by Qi Card to keep payments and the economy moving while social distancing measures prevent in-person cash transactions.
The Qi card continues to meet the growing demand for all services including payment processing, loans, and in-app transactions.
About the Qi card
Qi Card is the leading electronic payment service solution in Iraq, which uses biometric identity as a method of cardholder verification. Qi Card is operated and managed by International Smart Card “ISC”, the most successful partnership in the history of Iraq. Together with his State Bank partners, Al-Rafidain and Al-Rashed, he completed the domiciliation of more than 7M citizens with its multi-biometric payment system. In just over 18 months, ISC was able to disburse 5T IQD in loans to more than 800,000 Iraqi citizens. To date, ISC has an ecosystem of 17,000 points of sale and more than 6,000 merchants using the Qi system to provide easy installment payment and other business activities. ISC issues and acquires payment cards on behalf of fourteen affiliated banks in Iraq. Through its primary Mastercard membership, ISC has now issued more than 1.8M Mastercard and is now the largest supplier of Mastercard in Iraq.
SOURCE Qi card