INCLUSIVE: Users do not need to maintain a minimum balance on the contactless Himyan card

Qatar Central Bank is to launch a national contactless prepaid debit card that will enable both banked and unbanked citizens to make contactless payments at the point of sale, withdraw cash from ATMs and make online purchases.

The Himyan card will be issued by local banks and will allow users to store any amount of value on the card without requiring them to load or maintain a minimum account balance.

“The card will provide many advantages as it can be issued to banking and non-banking customers which enhances financial inclusion in Qatar, specially that no minimum account balance is required for issuance,” the central bank says.

“The card will be issued by the local banks, [and] comes as part of Qatar Central Bank efforts to develop the electronic payments system and enhance financial inclusion in Qatar.”

Qatar introduces national contactless prepaid debit card in bid to boost financial inclusion was written by Tom Phillips and published by NFCW.

Generated by Feedzy