The International Bank of Qatar (IBQ) has signalled its commitment to further growth and development by signing a deal with first data to host the bank’s credit card portfolio.
IBQ announced the deal in january, and said that first data will host the bank’s entire credit card operation via its first Vision processing platform. Philip King, head of retail at IBQ, said: “We believe that first data has the breadth of services we need to expand our current card portfolio and is also committed to supporting our strategic long-term retail banking initiatives. Through the rich functionality of first Vision, first data brings us the tools and capabilities we require to offer an extended suite of financial services to our valued clients, rapidly and efficiently.”
IBQ says that the contract will allow it to remain at the forefront of cash management and payment solutions in the region.
Qatar has seen credit card use increase over the last three years, with corporate cards in particular proving popular among businesses in the country. To meet that demand, Qatar National Bank recently launched a cash deposit card for business banking customers. First data’s scale and
strength has enabled it to continue to invest through the current economic downturn. from data centres in argentina, China and Germany, first Vision today supports customers across Latin america, europe, Middle east and asia with a single solution that delivers consistent functionality and technology in support of banks and major retailers around the world.