1. PRESS RELEASE
QNB rewards customers using Tap and Pay
Doha, June 17, 2012 - Qatar National Bank (QNB) the largest financial
institution in the State of Qatar and the MENA region, is encouraging its customers
to apply and use the revolutionary Tap and Pay payment solution by rewarding
them with easy to redeem cash bonuses. This QNB incentive will be will run until
July 10 2012
Tap and Pay is the first mobile Near Field Communication (NFC) payments program
launched in Qatar that allows QNB customers to easily turn their mobile phones into
their credit cards. QNB is now looking to reward those customers that apply for a
Tap and Pay product, which can be either a SIM card for NFC enabled mobile
phones or a Sticker, and start to use it for payments at accepting merchants. The
key feature of this rewards period is that all new Tap and Pay users will receive
cash bonuses upon activating their card and its first subsequent usage.
On their first Tap and Pay transaction customers will receive a cash payment
equally to the transaction amount. This bonus will only be granted once and must
be during the campaign period. Also, the maximum cash bonus received will be 100
QAR, even if the transaction amount is greater.
QNB also has a straightforward and effective redemption mechanism. The activation
cash bonus will be transferred to all eligible client credit card accounts at the end of
the promotion period. Note that this cash bonus will be paid only to those
customers with active NFC products, providing that their credit card accounts don’t
register any delinquencies.
The key benefit of carrying out payments using the Tap and Pay option is ease and
convenience. Signatures and PINs are not required for purchases of QR100 or less,
which makes Tap and Pay one of the fastest payment methods available in the
market, which considerably improves the overall shopping experience. In addition,
Tap and Pay offers an alternative to always having to carry around sums of money.
QNB customers can purchase what they want without being limited to the amount
of cash they have on hand.
Tap and Pay products also benefit from enhanced security. The mobile phone or
sticker doesn’t even have to leave customer’s hands during payments. Each
transaction uses state- of- the- art security that then generates a random
verification code that cannot be counterfeited. This simultaneously protects
customer funds and card details while putting the Bank’s customers at ease with
added peace of mind.
2. Just last month, QNB was awarded the Best Mobile Application payment award for
its Tap and Pay card option at the Smart Card Awards Middle East 2012 which was
held in Abu Dhabi. The Bank’s Tap and Pay card utilises NFC on user’s phones.
NFC is a set of standards for smartphones and similar gadgets, which works by
establishing radio communication with each other by either touching them together
or bringing them into very close proximity with one another.
QNB is always looking to be the institute of choice for customers. Not only does
QNB provide a quick and easy payment solution with its Tap and Pay option, but
customers also have an overall improved shopping experience.
QNB is once again signaling its place at the forefront of the banking sector. In
March of this year, the Bank launched its Tap and Pay card feature at QITCOM,
ahead of its rollout Qatar wide. With its launch QNB also became the first bank to
do so Qatar wide.
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