Qatar’s Commercial Bank Announces New Contactless Payment Method

Commercial Bank, a leading digital bank in Qatar, has announced a new innovative payment method...

Commercial Bank, a leading digital bank in Qatar, has announced a new innovative payment method provided through smartwatches and trackers.

Through this new offering, Commercial Bank is adding one more contactless payment solution that allows users to make secure payments from the smartwatch or fitness trackers, without the need of a phone or cards, reports Gulf Times.

To start using this novel payment method, Commercial Bank cardholders need to simply register their CB credit or debit card details into their wearable smartwatch or tracker using the devices’ applications and then make contactless payments by simply tapping their smartwatch at any contactless supported payment terminals.

Read more: Contactless Payment System Will Drive Payment-Enabled Wearables Market to US$7.2 Billion in 2024

This new service fulfills Commercial Bank’s promise of bringing payment solutions to match the evolving lifestyle of its customers; thus, becoming one of the first local banks to offer athletes and sports enthusiasts in Qatar a new way to pay for their purchases with their watches and keep moving.

“Commercial Bank has always been a market leader in introducing new payment technologies and a key influencer in setting new market trends in Qatar. In recent years, we have seen a considerable growth of smartwatches and wearables in the country" said Roya Khajeh, AGM and head (Cards and Payments) at Commercial Bank.

“The adoption of these wearables made it essential for us to bring contactless payments to more payment devices. We are proud to partner with Garmin and MasterCard to bring a secure and convenient payment option for our customers."

Commercial Bank customers can stay tuned and expect to know more about this exciting product launch following the ongoing closed group pilot testing phase, through a bigger marketing announcement.

Nadia Ghissassi, country manager (Qatar, Kuwait, Iraq, and Oman) at MasterCard said, “We are excited to extend our partnership with Commercial Bank for the launch of this new payment solution."

Read more: Visa and Planeta Informatica Launch New Technology to Bring Speed and Security of Contactless Payment to Transit Operators Worldwide

“Contactless payment technologies were already gaining traction, we have witnessed how the pandemic acted as a catalyst and dramatically increased consumer adoption in this market. Shoppers have realized that touchless provides a much faster, safer, convenient and hygienic way to pay. Hence we will continue to work closely with our partners in Qatar to introduce new solutions that are aligned with their changing needs.”

Sam Draper
February 18, 2021

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