Indians travelling to Qatar will soon be able to make QR Code-based UPI merchant payments through QNB merchant network
FinTech BizNews Service
Mumbai, July 11, 2024: NPCI International Payments Limited (NIPL) has signed an agreement with QNB, the largest financial institution in the Middle East and Africa, headquartered in Qatar, to launch QR code-based Unified Payments Interface (UPI) payments across the country. This initiative marks a significant milestone by enabling UPI payment acceptance in Qatar through the QNB merchant network, greatly benefiting Indian travelers visiting and transiting through the country.
This partnership will provide Indian tourists the option to use their preferred payment method across retail stores, tourist attractions, leisure sites, duty-free shops and hotels. This announcement is of particular significance considering that Indians rank as the second largest1 group of international visitors to Qatar.
By adopting UPI payments, merchants in Qatar will also be able to offer a faster and more convenient payment and checkout process, thereby enhancing customer satisfaction and opening up numerous opportunities for businesses across the country.
Speaking on the development, Anubhav Sharma, Deputy Chief – Partnerships and Business Development, NPCI International said, “We are happy to collaborate with QNB to bring UPI payments to Qatar. We believe that enabling UPI acceptance in Qatar will offer substantial benefits to the large number of Indians visiting the country, simplifying their transactions, and ensuring a hassle-free travel experience abroad. Additionally, merchants in Qatar will greatly benefit from UPI, gaining access to a wider customer base and more efficient payment and collection processing.”
Commenting on this Mr. Adel Ali Al-Malki, Senior Executive Vice Present, QNB Group Retail Banking said, “We are thrilled to embark on this pioneering journey with NIPL to bring UPI payments to Qatar, setting a new standard in innovation in the region. With this new digital payment solution acceptance, we are revolutionizing the way transactions are conducted, enhancing the travel experience like never before. We are confident that the strategic initiative will not only elevate the travel and hospitality sectors but also empower local merchants to thrive in a dynamic and increasingly digital marketplace.”
This partnership underscores NIPL’s dedication to use technology and innovation for creating a truly interoperable digital payments ecosystem for Indians travelling across the globe.
