In-app Transfers, New Card Openings Remain Strong for Qi Card

BAGHDAD, Iraq, Sept. 26, 2020 /PRNewswire/ -- Qi Card today announced that it has seen increases in two important metrics for the company: in-app usage among current card holders and issuance of new Master Qi Cards. By the close of 2020, Qi Card will have five times more Master Cards in circulation than all other Middle Eastern providers combined.

In the coming weeks, the company will release an official projection of the volume of active cards anticipated at the close of the year. The record-breaking number shows that Qi Card remains the provider of choice for Iraqi citizens.

Additionally, Qi Card will disclose an upward trend in-app money transactions conducted by current card holders as Iraqi citizens leverage the app to receive income, pay bills and transact between family and friends. This activity spotlights the invaluable service Qi Card provides to keep payments and the economy moving while social distancing measures preclude in-person cash transactions.

Qi Card continues to meet the rising demand for all services including payment processing, lending and in-app transactions.

About Qi Card

Qi Card is the leading electronic payment services solution in Iraq, which employs biometric identity as the cardholder verification method. Qi Card is operated and managed by International Smart Card "ISC," the most successful partnership in the history of Iraq. With its State Bank partners, Al-Rafidain and Al-Rashed, it has completed domiciliation of more than 7M citizens with its multi-biometric payment scheme. In just over 18 months, ISC was able to disburse 5T IQD in loans to over 800,000 Iraqi citizens. To date, ISC has an ecosystem of 17,000 POS and more than 6,000 merchants using the Qi scheme to provide easy merchant funded installment and other commercial activities. ISC issues and acquires payment cards on behalf of fourteen affiliated banks in Iraq. Through its principal membership in Mastercard, ISC has now issued more than 1.8M Mastercard and is now the largest Mastercard provider in Iraq.

SOURCE Qi Card