Doha Bank marks yet another First in the Banking Industry in Qatar by being the first issuer of UnionPay cards in Qatar
Doha Bank has continued to demonstrate innovation leadership in the country by partnering with UnionPay International to be the first issuer of UnionPay cards in the Qatar. Doha Bank and UnionPay International entered into a strategic relationship during a MoU signing ceremony today.
The agreement was signed between Mr Wenchao Shi, President of China UnionPay and Doha Bank Group CEO Dr. R. Seetharaman in the gracious presence of Mr. Li Chen, the Ambassador of China to Qatar. The exclusive event was attended by a delegation of senior bank executives from prominent Chinese banks, as well as senior management from Doha Bank.
UnionPay is a fast-growing bankcard network, serving the world’s largest cardholder base. This strategic alliance is yet another affirmation of Doha Bank’s position as the partner of choice amongst global and regional payment players. Doha Bank was also the pioneer in launching card acceptance for UnionPay cards in Qatar across its wide network of ATMs and point of sale merchant network in Qatar.
This relationship will allow prospective cardholders to freely transact in more than 150 countries and regions including China, without worrying about restricted acceptance and unsatisfactory exchange rates.
Doha Bank CEO, Dr. R. Seetharaman said: “We are proud to have established this pioneering partnership with UnionPay International and to be the first Qatar-based bank to do so. This new agreement proves that Doha Bank is committed to creating sustainable long term partnerships. China continues to be a strategic growth market and with a representative office already present in China, we continue to focus on creating Trade passageways between China and the GCC region. We believe that economic growth comes from increasing productivity. Most increases in productivity result from education, research, and innovation—the activities that mark high-performing countries such as China. And this agreement is a live example of the synergy in business and the shared vision for success.”
Mr Wenchao Shi, President of China UnionPay expressed his gratitude to Doha Bank for its strong support for the UnionPay card business. He said that, we will accelerate the card issuing project of Doha Bank to witness substantial progress, which not only provides new payment choices for local residents, but also accelerates the development of local financial service industry. In the future, UnionPay is looking forward to enlarging its cooperation with mainstream institutions in the Middle East market, expanding the acceptance scope of UnionPay cards unremittingly, increasing the card issuing scale and achieving breakthroughs in such innovative businesses as online payment and mobile payment.
Mr. Suresh Bajpai, Head of Retail Banking at Doha Bank said at the press conference: “Doha Bank now has widespread associations with the biggest international payment networks and bankcard associations, which makes us the only bank in Qatar to include the major global bankcard issuance relationships. We currently issue cards in Qatar, the UAE, Kuwait and India in respective local currencies. We are proud to claim the leading bank partner tag for the world’s biggest payment networks. It gives us immense pleasure to be the partner of choice for national networks of both China as well as India – which gives our cardholders access to the two fastest-growing and most populous countries on the planet.”
Doha Bank is proud to say that it is the leader in Qatar when it comes to the range of card products. With the major bankcard associations including UnionPay, Doha Bank also offer a range of purpose-built cards covering credit, debit, co-branded cards as well as payroll cards.”
He added: “We are keen to make sure we cater to the needs of people from Qatar visiting China and the Asia Pacific for business or leisure.”
Doha Bank has consistently been recognized for its efforts, wining a host of awards including: Banker Middle East- Best Regional Bank 2015, The Golden Peacock Award – Institute of Directors 2015, Best bank in Qatar- IAR Award 2014, Bizz 2014 Beyond Success Award- World Confederation of Business 2014, Best Retail Bank in Qatar, Asian Banking and Finance, Best Retail Bank in Qatar- Asian Banker Award 2014 and tens of awards for innovation, excellence and sustainability from the most prestigious institutions which mark a legacy of great achievements for Qatar’s preferred Bank.
About UnionPay International:
UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 300 institutions worldwide, UnionPay International has enabled card acceptance in 150 countries and regions outside the Chinese mainland with issuance in 40 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.