Qatar Islamic Bank (QIB), along with Qatar-based fintech company QPay international, has introduced first Islamic point of sale (PoS) and online payment gateway solutions in the country.
The Islamic POS and payment gateway will offer a range of electronic payment solutions, enabling QIB to serve its corporate and SME clients and meet their business banking requirements.
QPay CEO and founder Nebil Ben Aissa said: “QPAY is very proud to work with QIB in order to help Qatari small businesses to be aligned with Qatar’s 2030 vision and 2022 World Cup with a cashless electronic society.”
Developed by Android smart technology, the Islamic PoS solution will offer advanced, secure and efficient payment processing services.
The new PoS solution is compatible with contactless card transactions, E-Wallet, mobile PoS (mPOS), QR code scanner and online billing and settlement.
The mPoS is an advanced business solution designed to serve delivery-oriented businesses. It is connected via Bluetooth to a smartphone to serve as a cash register, enabling to make card transactions portable.
QIB’s new Pos is provided with a built-in camera, which enables merchants to scan barcodes and helps SME’s and corporate clients to avoid the use of a separate barcode reader, delivering dual function to the customers.
The PoS solution is said to accept Visa, Mastercard, American Express, and UnionPay international cards.
Online billing feature will allow merchants real-time access to all transactions made on the PoS on an online platform, helping merchants to avoid keeping a log of all transactions. The PoS is also available with existing corporate such as SME and prospective merchants.
QIB and QPay are providing quick and secure online payment gateway for businesses, which require e-commerce solution to process payments online.
QIB wholesale banking group general manager Tarek Fawzi said: “With the launch of the first Islamic PoS & Online Payment Gateway Solutions reaffirms QIB’s position as the leading Islamic Bank in Qatar.
“As Islamic banking is currently witnessing a new era, QIB wants to reassure it’s corporate and SME clients that they will continue to leverage Fintech based solutions to provide new services and products to provide them innovative solutions that are Sharia-compliant to help them grow their businesses.”