Qatar Central Bank (QCB) announced the issuance of the first National Payment Card (Himyan) in Qatar, as the first national prepaid debit card.
The launch of this card is aimed at enhancing the infrastructure of electronic banking services and transforming the society into cashless society as said by QCB Assistant Governor for Market Development and Innovation and Assistant Governor for Financial Instruments and Payment Systems, H E Sheikh Ahmed bin Khalid Al Thani. The target groups include all residents of Qatar and visitors; in addition to individuals who don’t have bank accounts said Sheikh Ahmed Al Thani.
The launch of Himyan card will be before the end of the year. The new card will be used in the internal market as a first stage only, the official said during a press conference held yesterday at the QCB headquarters.
The card which will be issued by the local banks comes as part of QCB’s efforts to develop electronic payment services and enhance financial inclusion in the country. Himyan card is named after the money bag used by merchants in ancient Arabia.
Sheikh Ahmed bin Khalid Al Thani added that the card does not require a minimum balance to be issued, and it supports contactless feature and provides lower transaction fees for card issuers, acquirers and merchants.
Himyan card is considered more secure since transactions are made locally via NAPS network, adding that the card allows transactions in all sale points, ATMs and local online shopping websites. The card is the first Qatari national prepaid debit card with a registered trademark in Qatar which is similar to electronic cards issued by globally payment networks.
The card will provide many advantages as it can be issued by banking and non-banking customers which enhance the financial inclusion in Qatar, specially that no minimum account balance is required for issuance, QCB stated on its website. Regarding the term of services and how to get the card will be announced by the banks.
