Ahlibank and Visa Announce Exclusive Strategic Partnership with a five-year agreement to Foster Payments Innovation
10 August 2020
- Long-term agreement will see Ahlibank and Visa leverage innovative technologies to deliver new payment solutions in Qatar
- Ahlibank will exclusively issue Visa debit, credit and prepaid cards.
Doha – 10 August 2020 – Ahlibank, a leading Qatari owned financial institution and Visa (NYSE: V), the world’s leader in digital payments, announced an exclusive strategic partnership with a five-year agreement to foster payments innovation in Qatar.
Ahlibank and Visa partnered to roll out a suite of card-based payment products and collaborate to develop and deliver advanced technology solutions that augment the payment experience for Ahlibank customers. The partnership will further enable Ahlibank to deliver world-class solutions to its growing customer base.
As part of the five-year partnership agreement, Visa has secured exclusivity over Ahlibank’s debit, credit and prepaid cards offering to personal, premium and private customers. In addition, both companies will continue to work together to drive growth of digital payments through data-led solutions, deliver differentiated products in the market using innovative platforms, deepen customer engagement with experiential offerings through Visa’s sponsorship assets, and drive operational efficiencies and cost reduction through Visa’s risk and data solutions.
Commenting on the partnership,
Mr. Mohamed Al Namla, Deputy CEO - Business Support, Services and Human Resources of Ahlibank said: “This strategic agreement with Visa comes as part of our relentless efforts to deliver the latest and most innovative payment solutions to our customers. Supported by our long-term collaboration with Visa, Ahlibank has created payment offerings that are unmatched in value and scale, enhancing our customers’ experience.”
Mr. Al Namla further added: “We are also delighted to engage in this long-term partnership with Visa to leverage their global expertise and network and drive innovation to support the evolution of Qatar’s financial ecosystem.”
Dr. Sudheer Nair, Visa’s Country Manager for Qatar, said: “We are delighted to extend our long-standing relationship with Ahlibank through this exclusive partnership agreement. We will continue to ensure that our offerings evolve to further support the Bank’s different customer segments and their changing preferences. This partnership underlines our commitment to growing the digital payments ecosystem in Qatar by creating new products and customer-centric solutions that deliver seamless, secure and rewarding payment experiences for the country’s cardholders.”