Doha Bank and UnionPay Announce a Strategic Partnership

UnionPay

Doha Bank in partnership with China UnionPay the biggest and most advanced bankcard association in the Chinese bankcard industry have announced a strategic cooperation to offer greater convenience to China UnionPay Cardholders on Doha Bank ATMs and POS terminals expectantly by the end of this year.

Prominently, Doha Bank will be a pioneer in launching cash transactions and balance inquiries for any card issued on behalf UnionPay through Doha Bank’s wide network of ATMs. Also the new collaboration will allow China UnionPay Cardholders to enjoy payments through Doha Bank point of sale to purchase goods and services offered by Doha Bank’s exhaustive selection of great outlets within the participant network.

At the event: Mr. R. Seetharaman Doha Bank group CEO said: “Trade passageways between China and the GCC region transport enormous economic growth potential for businesses, offering the utmost prospects in the commodity and energy sectors. China is poised to become the world’s largest trading nation by 2016 and will account for 12.3% of world trade by 2026. We tend to believe that economic growth comes from increasing productivity, most increases in productivity result from education, research, and innovation—those activities that mark high-imagination-enabling countries such as China. We must ensure that “there is no obstacle between us and China”, this is why we have come to a shared space with China UnionPay.”

He added: “Our dynamism and leadership in partnership marketing is targeted to build customer trust and to empower people with choice in a significantly converged world, and today we outspread our revelation towards China mainly and look forward to serve the significant yearly growth of Chinese people who reside and visit Qatar to support the billions of dollars massive projects in Qatar in years to come.”

Mr. Tabbara Executive Manager of Retail Banking said: “We are proud to partner with UnionPay to offer a great selection of service to all the Chinese community residing and visiting Qatar on our state of the art ATMs which additionally host a great selection of e-commerce services. They will also celebrate shopping while buying from Doha Bank’s network of great merchants from all trades offering products and services that will meet their necessities at every step.”

He added: “The great prospects between China and Qatar has certainly started to manifest itself in the number of people visiting Qatar from China for Business, Trade, Tourism and vice versa. Hence, we are keen to make sure we serve the needs of these people in Qatar and equally look forward to the future through this collaboration to offer more convenience and acceptance of our cards in China with people travelling to China for business or leisure.”

All Doha Bank initiatives are deliberate following the bank’s slogan “There is so much to look forward to”. For further inquiries Call 4445 6000

About Union Pay (www.unionpay.com):

Established in March 2002, UnionPay is a bankcard association established under the approval of the State Council and the People’s Bank of China. At present, the Shanghai-headquartered UnionPay has over 400 domestic and overseas associate members worldwide. UnionPay has become the central and pivotal part of China’s bankcard industry, and plays an essential role in the industry development. As the bankcard association in China, UnionPay operates an inter-bank transaction settlement system through which the connection and switch between banking systems and the inter-bank, cross-region and cross-border usages of bankcards issued by associate banks could be realized.

Based on the system construction and operation as well as the bankcard network, UnionPay actively collaborates with various industrial parties like commercial banks in the efforts to formulate and extend united UnionPay card standards and regulations, create independent bankcard brand, promote the development and application of bankcard, maintain an orderly bankcard acceptance market and prevent bankcard risks.

Today UnionPay is one of the fastest growing payments technology companies in the world. Its Cards are accepted in over 1.5 million ATMs and 4.5 million POS terminals, in more than 126 countries and regions. It has a Card base of 2.8 billion globally, which makes it one of the largest Cards payment schemes in the world.