Doha Bank has continued to demonstrate innovation leadership in Qatar by partnering with UnionPay International to be the first issuer of UnionPay cards in the country.
Doha Bank and UnionPay International entered into a strategic relationship during a MoU signing ceremony.
The agreement was signed between Mr. Wenchao Shi, President of China UnionPay, and Dr. R. Seetharaman, Group CEO of Doha Bank, in the gracious presence of Mr. Li Chen, the Ambassador of China to Qatar. The exclusive event was attended by a delegation of senior executives from prominent Chinese banks, as well as senior management from Doha Bank.
UnionPay is a fast-growing bank card network, serving the world’s largest cardholder base. The strategic alliance with UnionPay is yet another affirmation of Doha Bank’s position as the partner of choice amongst global and regional payment players. Doha Bank was also the pioneer in launching card acceptance for UnionPay cards in Qatar across its wide network of ATMs and merchant point of sale network.
This relationship will allow prospective cardholders to freely transact in more than 150 countries and regions including China, without worrying about restricted acceptance and unsatisfactory exchange rates.
Dr. R. Seetharaman said: “We are proud to have established this pioneering partnership with UnionPay International and to be the first Qatar-based bank to do so. This new agreement proves that Doha Bank is committed to creating sustainable long-term partnerships. China continues to be a strategic growth market and with a representative office already present in China, Doha Bank continues to focus on creating Trade passageways between China and the GCC region. We believe that economic growth comes from increasing productivity. Most increases in productivity result from education, research, and innovation—the activities that mark high-performing countries such as China. And this agreement is a live example of the synergy in business and the shared vision for success.”
Mr. Wenchao Shi, President of China UnionPay, expressed his gratitude to Doha Bank for its strong support for the UnionPay card business. He said that UnionPay will look to accelerate the card issuing project of Doha Bank to witness substantial progress, which not only provides new payment choices for local residents, but also accelerates the development of the local financial services industry. Mr. Shi said UnionPay is looking forward to enlarging its cooperation with mainstream institutions in the Middle East market, expanding the acceptance scope of UnionPay cards, increasing the card-issuing scale and achieving breakthroughs in such innovative businesses as online payment and mobile payment.
Mr. Suresh Bajpai, Head of Retail Banking at Doha Bank, said: “Doha Bank now has widespread associations with the biggest international payment networks and bank card organizations, which makes us the only bank in Qatar to boast of major global bank card issuance relationships. We currently issue cards in Qatar, the UAE, Kuwait and India in respective local currencies. We are proud to claim the leading bank partner tag for the world’s biggest payment networks. It gives us immense pleasure to be the partner of choice for national networks of both China as well as India – which gives our cardholders access to the two fastest-growing and most populous countries on the planet.”
“Doha Bank is proud to say that it is the leader in Qatar when it comes to the sheer range of card products offered to customers, with an extensive array of purpose-built cards covering credit, debit, co-branded cards as well as payroll cards,” he added. “We are keen to make sure we cater to the needs of people from Qatar visiting China and the Asia Pacific for business or leisure,” he concluded.
Doha Bank has consistently been recognized for its efforts, winning a host of awards including: Banker Middle East- Best Regional Bank 2015, The Golden Peacock Award – Institute of Directors 2015, Best bank in Qatar- IAR Award 2014, Bizz 2014 Beyond Success Award- World Confederation of Business 2014, Best Retail Bank in Qatar, Asian Banking and Finance, Best Retail Bank in Qatar- Asian Banker Award 2014.