Qatar Central Bank to launch national prepaid card Himyan – The Peninsula

Qatar Central Bank to launch national prepaid card Himyan – The Peninsula

Doha: Qatar Central Bank announced that it will soon launch the first registered Qatari national prepaid debit card Himyan as part of its efforts to develop the electronic payment services in the country.

Named after the money bag used by merchants in ancient Arabia, it is similar to electronic cards issued by global payment networks.

This is a step taken towards financial inclusion in the country, stated Qatar Central Bank.

Stating its advantages, the central bank noted:

1. No minimum account balance required for issuance.

2. Contactless

3. Allows transactions at all sale points, ATMs and local online shopping websites.

4. Can be issued by banking and nonbanking customers to promote financial inclusion

5. More secure since transactions are made locally via the NAPS network.

6. Lower transaction fees for issuers, acquirers and merchants.