Doha – Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, announced launch of a new reloadable prepaid card in partnership with VISA. The prepaid card is designed to empower customers with the right tool to effectively manage family or business expenses locally and internationally.
The card caters to customers allocating money to family members, including children studying abroad, and domestic helpers responsible for the daily household expenses and groceries. The card can also be used by corporate entities to manage daily company expenses, bills, government fees or general expenses of their employees. The card encourages proper expense management and allows customers to monitor their spending whether it is personal or business-related. It also enables customers with instant access to reload it instantly through QIB Mobile App, internet banking, call center or any QIB branch.
“At QIB, we are committed to provide our customers with payment solutions which gives them control over their expenses. The prepaid card is an alternative to cash given to family members and employees for their daily spends, which can be tracked in an efficient manner” said D Anand, General Manager QIB’s Personal Banking Group.
Customers can load and reload the prepaid card with any amount between QR 200 to QR 15,000 and use the card for POS and online purchases only. These cards are issued instantly from any QIB branch, with individual customers being able to issue up to 10 prepaid cards linked to their QIB Accounts while corporates can apply for as many cards based on their business needs. The cards, which are valid for five years, can be personalised and are available for all QIB customers.
Earlier this year, QIB had introduced the Hadiyati prepaid gift card, and with launch of the reloadable prepaid card, QIB is evolving its prepaid card category to meet the different needs of its customers by providing them different options to manage their daily financial needs in an efficient manner.