Qi Card Lending Supports More than 1M Iraqi Citizens

·2 min read

Access to funding is one reason Qi Card is the provider of choice for Iraqis

BAGHDAD, Iraq, Oct. 25, 2020 /PRNewswire/ -- Qi Card, the leading electronic banking solution and default national debit/credit card of Iraq has supported nearly one million Iraqis through a variety of credit options that power entrepreneurs, small businesses and personal spending, contributing to Qi Card's status as the provider of choice for banking needs in the region.

The Qi Card Credit suite of lending options includes instant approval for salary-backed loans, access to more than 6,000 merchants operating in the merchant funded instalment platform, credit cards, collateral-backed loans, bridge financing and insurance to lenders and merchants for all loans being granted.

A competitive and user-friendly loan option, Qi Card small loans have been leveraged by 800,000 citizens and are ideal for small business owners. A full 55.40% of loan recipients used the funds to finance a small project, 29.90% paid for medication and health-related matters, 8.20% repaid personal debts, 4.30% financed a home renovation and 2.20% put the money toward a personal vacation. Qi Card Credit customers trust Qi Card to provide a safe, secure and reliable banking experience.

Qi Card's products and services are based on the principle of maximum protection, accessibility, ease of use and full transparency. The company boasts more than a decade of experience facilitating electronic payments and employs state-of-art biometric verification.

To learn more about Qi Card, visit www.qi.iq

About Qi Card

Qi Card is the leading electronic payment services solution in Iraq, which employs biometric identity as the cardholder verification method. Qi Card is operated and managed by International Smart Card "ISC," the most successful partnership in the history of Iraq. With its State Bank partners, Al-Rafidain and Al-Rashed, it has completed domiciliation of more than 7M citizens with its multi-biometric payment scheme. In just over 18 months, ISC was able to disburse 3T IQD in loans to over 800,000 Iraqi citizens. To date, ISC has an ecosystem of 17,000 POS and more than 6,000 merchants using the Qi scheme to provide easy merchant funded installment and other commercial activities. ISC issues and acquires payment cards on behalf of fourteen affiliated banks in Iraq. Through its principal membership in Mastercard, ISC has now issued more than 1.8M Mastercard and is now the largest Mastercard provider in Iraq.

Cision
Cision

View original content:http://www.prnewswire.com/news-releases/qi-card-lending-supports-more-than-1m-iraqi-citizens-301157452.html

SOURCE Qi Card