The Banking Executive Magazine - July 2024 Issue

Qatar National Bank LAUNCHES MULTI-CURRENCY TRAVEL VISA CARD QNB has launched the multi-cur- rency travel Visa card, which is an innovative payment solution that en- ables customers to transact in Qatari riyals in addition to five foreign cur- rencies. The five foreign currencies are US dollar (USD), euro (EUR), British pound (GBP), Swiss franc (CHF) and UAE dirham (AED). The card elimi- nates foreign exchange conversion fees tied to international card pay- ments. QNB multi-currency travel Visa card aims to provide customers with “un- paralleled” convenience, security, seamless payments, and savings. “It is set to transform how customers manage their funds while travelling abroad or making foreign currency online purchases, offering a worry- free experience,” QNB said yester- day. The card offers customers the ability to load it in Qatari riyals from their current or saving accounts using QNB Mobile Banking, then transfer and store multiple currencies into separate wallets onto a single card, eliminating the need to carry multi- ple cards or cash currencies when travelling. Furthermore, the card offers the ad- vantage of locking in competitive ex- change rates and eliminating inconvenient foreign currency con- version fees, allowing customers to enjoy transparent pricing with no hidden charges, as well as secured transactions using state-of-the-art technologies such as Apple Pay, Google Pay, Samsung Pay, and 3D Secure. The card is also globally accepted at Visa’s 130mn-plus merchant partners and can be used for online and in- store purchases. All QNB customers with a current or saving account who are registered in QNB Mobile Banking are eligible to get the card. Adel Ali al-Malki, senior executive vice president, QNB Retail Bank Group, said: “We are very proud to launch the QNB Multi-Currency Travel Visa Card that aims to en- hance our customers’ payment and travel experiences. This innovative yet practical payment instrument is designed to offer ultimate conven- ience and security paving the way for our customers to make worry-free transactions without the need to carry cash, manage different curren- cies, or incur any unexpected or hid- den conversion fees.” Shashank Singh, Visa’s vice-president and general manager for Qatar and Kuwait, said: “The QNB Multi-Cur- rency Travel Visa Card is a great ex- ample of innovation meeting market needs and ultimately creating tangi- ble value for consumers. “The international nature of the Qatar consumer means whether they are travelling or shopping online, they are dealing with multiple cur- rencies, and so simplifying this expe- rience – and delivering it securely - is vital. We are pleased to partner with QNB Group to bring this inno- vative solution to Qatar and extend the benefits of digital payments to more consumers and businesses." ISSUE 187 JULY 2024 the BANKING EXECUTIVE 39