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Posted On: 7 December 2015 07:45 am
Updated On: 12 November 2020 01:55 pm

Electronic payment firm QPAY sets up shop in Qatar

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Following the successful offering of its wide range of solutions across the GCC and foreign markets, QPAY has now established its presence in Qatar.

As a Qatari company offering made-in-Qatar electronic payment solutions for banks, QPAY brings to the Qatari market the lowest cost and advanced Wage Protection System (WPS) IBAN platform and Qatar’s first WPS salary card platform.

Both products are fully-compliant with Qatar Central Bank’s (QCB) directive on WPS payment rules to low-wage immigrant labourers residing in Qatar and QMLSS Salary Information File (SIF) generation.

With its successful implementation in Dubai, Kuwait, and the US, QPAY’s secure cloud-based WPS IBAN platform enables banks to comply with the latest laws on labourer WPS while streamlining banks’ corporate filing of labour pay with the Ministry of Labour and Social Affairs (MoLSA). As a turn-key solution, it provides the labourers with a Qatari IBAN bank account without having to add extra burden on the bank’s back-office, front office or branch network.

QPAY solutions have been used in Qatar, GCC, and foreign markets since 2001. They have been offered to banks and financial institutions as white labeled products with tremendous revenue share opportunities.

“With Qatar’s commitment at ensuring that its rapidly-growing expatriate labour and workforce justly receive their hard-earned wages securely in full and on-time, QPAY provides all the solutions required by employers and banks,” said Nebil Ben Aissa, CEO and founder of QPAY International.

“Not only will our solutions remove all the worries and burden of having to comply with QCB’s strict WPS policies and directives, but will also spur a streamlined and cost-efficient business and banking operations.

“Clearly, QPAY’s solutions are fully-aligned with the country’s aspirations embodied in Qatar’s National Vision 2030 Plan. Such solutions also enable financial inclusion and privileges to low-wage immigrant labourers into the Qatari financial ecosystem. These include use of international standards such as MasterCard and an IBAN account,” he added.

QPAY also recently launched new electronic payment products designed to help banks and financial institutions better service their small and medium-sized enterprise (SME) business clients, as well as their low-wage consumer segments.

QPAY is committed to innovation in secure electronic payments, and its main objective is to partake in building a secure and safe Qatari electronic payment ecosystem ready for the 2022 World Cup in Doha.