Doha Bank, one of the largest private commercial banks in Qatar, has announced the launch of Visa Commercial Pay (VCP), making it the first bank in the country to offer this service.
It is the first in the CEMEA region to roll out the VCP-Mobile Module, further cementing its commitment to innovation and digital transformation, according to FF News.
The launch aligns with the Qatari Government’s strategic push towards digitalising payments, advancing electronic banking services, and achieving a cashless society.
Doha Bank aims to meet growing demand from large corporations for secure, efficient, and digital payment solutions, positioning itself as a key player in Qatar’s economic modernisation.
The PayTech provides comprehensive financial services, ranging from personal banking and SME lending to large-scale corporate banking. W
ith its focus on innovation and customer-centricity, the bank has become a trusted partner for businesses and individuals across Qatar.
Visa Commercial Pay offers businesses a streamlined solution to manage payments efficiently. By automating processes, enhancing cash flow management, and ensuring secure virtual card payments, VCP is designed to replace traditional manual processes and improve overall payment efficiency.
The Virtual Corporate Credit & Purchasing Card utilises advanced tokenisation technology. This replaces actual card numbers with unique tokens, enhancing security during transactions.
The card supports online platforms, mobile apps, and digital wallets such as Apple Pay and Google Wallet, ensuring flexibility and ease of use for corporate clients.
The collaboration between Doha Bank and Visa marks a significant milestone in digital payment innovation. According to Shashank Singh, Visa’s VP and General Manager for Qatar and Kuwait, “Our partnership with Doha Bank stands as a testament to our commitment to fostering digital innovation in the financial sector. The introduction of Visa Commercial Pay marks a paradigm shift in how businesses manage payments, setting a new standard for convenience and security. As we progress, we remain dedicated to working closely with Doha Bank to further tailor our services to meet the growing needs of the local economy.”
Dimitrios Kokosioulis, Deputy Chief Executive Officer at Doha Bank, shared his perspective on the launch: “These solutions aim to streamline payments for our corporate clients while augmenting security measures. Our strategic alliance with VISA has enabled us to roll out tailored solutions for our corporate clientele. The launch of the Doha Bank Visa Virtual Corporate & Purchasing Card on the Visa Commercial Pay reflects our dedication to this longstanding partnership with Visa and our commitment to addressing the evolving payment needs of our economy.”
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