QIB and Mastercard launch SoftPOS scceptance solution for merchants

QIB and Mastercard launch SoftPOS scceptance solution for merchants

Doha, Qatar – Qatar Islamic Bank (QIB), Qatar’s leading digital bank, has partnered with Mastercard, a technology leader in the global payment industry, to launch its latest smart payment solution for merchants. The new QIB SoftPOS app turns an Android Smartphone into a Point-of-Sale terminal and enables secure acceptance of contactless payments on the device using embedded Near-Field Communication (NFC) functionality.

Through the QIB SoftPOS solution, powered by Mastercard, merchants’ Android smartphones can accept contactless transactions from all EMV contactless cards, and NFC-enabled phones with wallets such as Apple Pay, Google Pay, or other NFC-enabled wearables like Apple watch, Garmin Pay or Android watches.

The implementation of the new QIB SoftPOS solution instantly allows merchants to accept payments on their smartphone device upon downloading the application. Its benefits include improved scalability by providing easy access to multiple users, and increased cost efficiency by eliminating the need to purchase new hardware and leveraging the smartphones already in circulation, making it a cheaper and simpler way for merchants to benefit from electronic payments.

Commenting on the launch, Mr. Tarek Fawzi, QIB’s General Manager – Wholesale Banking Group, said: “We are delighted to launch the QIB SoftPOS solution, empowering merchants with an innovative and cost-effective solution