Doha Bank, one of Qatar’s largest private commercial banks, has become the first bank in the country to offer Visa Commercial Pay (VCP), marking a significant milestone in the digital payment landscape. The launch of VCP also includes the introduction of the VCP-Mobile Module, making Doha Bank the first in the CEMEA region to deploy this feature. This move underscores the bank’s commitment to innovation and digital transformation, aligning with Qatar’s government-driven push for a cashless society.
Visa Commercial Pay provides businesses with a streamlined, efficient, and secure solution for managing payments. By automating traditional payment processes, the service enhances cash flow management and offers secure virtual card payments. This solution replaces outdated manual payment systems, improving operational efficiency for businesses, especially large corporations.
The new Visa Virtual Corporate Credit & Purchasing Card leverages advanced tokenization technology, replacing actual card numbers with unique tokens to enhance transaction security. The card is compatible with online platforms, mobile apps, and digital wallets like Apple Pay and Google Wallet, offering corporate clients flexibility and convenience.
Doha Bank’s focus on customer-centricity and innovation positions it as a leading partner for both individuals and businesses in Qatar. The bank offers a range of financial services, from personal banking to corporate banking, and aims to support Qatar’s economic modernization through digital solutions.
Shashank Singh, Visa’s VP and General Manager for Qatar and Kuwait, praised the collaboration with Doha Bank, stating, “Our partnership with Doha Bank demonstrates our dedication to driving digital innovation in the financial sector. Visa Commercial Pay marks a new era in business payment management, setting new standards for security and convenience.”
Dimitrios Kokosioulis, Deputy CEO of Doha Bank, also highlighted the significance of the launch, saying, “The introduction of the Visa Virtual Corporate & Purchasing Card reflects our ongoing partnership with Visa and our commitment to meeting the evolving needs of the Qatari economy with secure, digital payment solutions.”
This collaboration with Visa is set to further position Doha Bank at the forefront of Qatar’s digital payment revolution, offering businesses the tools to navigate the future of secure and efficient financial transactions.
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