Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has announced the launch of the Instant Payment Request feature on QIB Mobile App. This innovative service simplifies the instant payment process, reflecting the bank’s commitment to providing advanced financial solutions to its customers.
This feature allows customers to request an instant payment from a Fawran user via the QIB mobile app. Once the payer’s account name and the required amount are entered, the request is sent to the payer at any bank in Qatar registered for this service. Upon the payer’s approval, the transfer is executed instantly, smoothly and securely.
This service enhances payment and transfer operations by integrating advanced security protocols and enabling customers to benefit from them and manage their financial affairs effectively and easily. This comes within the framework of the bank’s efforts that are in line with the third strategy for the financial sector and in support of Qatar’s vision to become a leader in providing secure digital banking and financial services.
The Fawran service aims to facilitate the payment and transfer experience for customers and relies on alternative identifiers for account details that enable the customer to send and receive money instantly without the need to enter the beneficiary’s banking details, making the process quick and easy. The Fawran service enables bank transfers to be completed instantly and is a fast and secure means of instant electronic payment available 24 hours a day, 7 days a week.
This system provides security, protection and speed during the transfer process, as the balance is added to the beneficiary’s account within seconds. The service allows the user to transfer up to 50,000 Qatari Riyals per transaction. In addition, the “Fawran” service will provide customers with control options to link the account name to their desired accounts, and track their transactions through their transaction history.
Commenting on the launch of the new feature, Mr. D. Anand, General Manager of the Personal Banking Group at the bank, said: “We are pleased to launch the Request to Pay feature, a new addition to our ongoing efforts to enhance customer convenience. This service confirms our commitment to providing innovative solutions that meet their diverse financial needs and provide them with speed, more control and flexibility.”
