Commercial Bank launches new mobile remittance app

​Bank PayCard customers can send money at just QAR 10 per transaction through the app in association with Xpress Money

 

Doha, Qatar: Commercial Bank, Qatar’s first private bank, has partnered with Xpress Money, a global remittance solutions provider, to launch an easy to use mobile remittance app for Commercial Bank’s PayCard customers.

 

A PayCard customer needs to download the app on his mobile phone (iOS or Android) and register a beneficiary with a one-time Pin (OTP) verification and validation process. The customer is now ready to send money, check the rates, view his balance and statements, and change his pin. The process is fully compliant with Qatar Central Bank regulations.

 

Remitting money via the mobile app has many advantages and benefits to PayCard customers, as it eliminates the need to spend time in long queues at ATMs and exchange houses. Through Xpress Money, the app has global reach across geographies and customers can remit money in real time, 24/7, in a simple, secure and convenient way at a time and place that suits them. The sender and the beneficiary will receive an SMS as soon as the money has been delivered to ensure peace of mind.

 

Roya Khajeh, AGM and Head of Cards & Payments at Commercial Bank said: “Providing the best client experience through the best people, processes and technology is key to achieving our goal of being the best bank in Qatar. Commercial Bank are the pioneers of Internet and mobile banking innovations in Qatar and we are always looking for ways to provide the most secure, easy to use, and convenient banking services for our customers. This leading solution is an innovative and exciting development in the remittance process for our corporate PayCard customers.”

 

Sudhesh Giriyan, COO of Xpress Money said: “Sending money home is the single most important financial activity for many in Qatar. Xpress Money and Commercial Bank believe this new app can significantly improve the quality of life of Commercial Bank’s PayCard customers by making remittances an easy process. Customer convenience has always ranked high on Xpress Money’s list of priorities; through this partnership we are elevating that level of our customers’ convenience as they can now send money at their fingertips, whenever they want, through this app.”

 

PayCards are a cost-effective and efficient way to pay employees electronically, especially for those earning less than QAR 4,000 per month. There are several advantages to paying employees directly onto a PayCard compared to traditional cash salaries. PayCard is based on secure chip and PIN technology typical of other Debit and Credit Cards, significantly increasing security whilst also helping to streamline corporate payroll processing. Commercial Bank is Qatar’s market leader in PayCards and has been championing PayCard products since 2003, providing corporates and SMEs with a quick, easy and secure way of paying their workers.