How Qi Card is Boosting Iraq's Digital Economy

Qi Card is making a significant impact on Iraq's digital economy. It's a prepaid card that allows users to make transactions online and offline, and it's been a game-changer for many Iraqis.

The card was launched in 2018 and has since gained popularity across the country. It's a simple and convenient way to make payments, and it's available at many merchants and online platforms.

One of the key benefits of Qi Card is that it's widely accepted, with over 100,000 merchants across Iraq accepting the card. This has made it easier for people to make transactions and has helped to increase financial inclusion in the country.

Qi Card has partnered with Western Union to provide money transfer services to its clients. This means that Rafidain Bank card holders can now use Qi Card to send and receive money.

The decision to include Rafidain clients was made to serve a broader segment of the public. Qi Card aims to make money transfer services more accessible to everyone.

Qi Card was established in 2007 as a joint venture between the private sector and a government entity.

Iraq's digital economy drive is gaining momentum, and Qi Card is right at the forefront. The company has played a crucial role in transforming Iraq's financial services since its establishment in 2007.

Over 12 million clients, including government employees, pensioners, and private sector workers, trust Qi Card with their financial transactions. This has made it a key player in the country's fintech sector.

Iraq's reliance on cash has brought challenges like inefficient payment processes and increased risks of fraud and corruption. However, the digital revolution is starting to change things, and Qi Card is leading this transformation.

Qi Card offers a wide range of services, from salary distribution to e-commerce transactions, and actively promotes financial inclusion to help Iraq transition from its cash-based economy. This has contributed significantly to the country's financial sector.

The company's multi-biometric identification and de-duplication techniques greatly enhance fraud prevention and secure transaction integrity. This sets a high standard for security in Iraq's financial services.

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Bahaa Abdul Hadi, the founder and CEO of Qi Card, emphasizes the importance of security in digital transactions. He believes that trust among clients is vital in a country where financial fraud has been a significant issue.

Qi Card has partnered with major financial institutions and technology providers to expand its services. This has allowed the company to extend Western Union services to all Rafidain Bank cardholders, making international money transfers more accessible.

The company has also disbursed over $4 billion in loans to more than 800,000 citizens since 2018, showing its commitment to supporting Iraq's economic growth.