QNB Group, the largest financial institution in the Middle East and Africa, becomes the first bank in Sudan to have successfully performed an international payment card transaction in partnership with Mastercard, a global technology company in the payments industry.
The transaction was performed using a Mastercard virtual prepaid card product. QNB is also the first Bank in Sudan to have obtained an issuance license from Mastercard.
The first successful international prepaid card transaction was performed on 14 June 2020 and it marks an important and historic milestone for QNB and Mastercard’s strategic plans in Sudan and across Africa.
Through this partnership, QNB will issue and accept the Mastercard-branded payment cards in Sudan, allowing more people and businesses across the country to enjoy more convenient, secure and easy to use ways to pay locally and globally. The QNB Mastercard product is a secure and innovative digital payment solution that is accepted globally, including e-commerce websites.
Ms. Heba Al-Tamimi, General Manager - QNB Group Retail, said: “We are delighted to have partnered with the Sudanese authorities and Mastercard on achieving this historic milestone. QNB Group is fully committed to investing and growing the payments landscape in Sudan, which will have a positive impact on the economic growth of the country. We look forward to bringing about best practices and market centric strategies which will eventually benefit our customers in Sudan.”
“With a commitment to include 1 billion people to the digital economy, Mastercard is continually working to open new markets and introduce more people to a world beyond cash. More so now, as the world contends with COVID-19, the digitization of financial services continues to provide people and businesses with the tools they need to achieve financial security, grow their businesses, and improve quality of life. Therefore, we are delighted to have partnered with QNB to enable more people in Sudan to join the global interoperable payment ecosystem while contributing to strengthening trade and business locally” said Raghav Prasad, Mastercard’s Division President for Sub-Saharan Africa.
According to the World Bank’s Trading across Borders 2020 indicator, Sudan ranks 171 out of 190 countries regarding ease of doing business. Through this partnership, businesses will have a far more convenient channel to pay for goods and services to expand their businesses, and bank customers will be able to withdraw funds from Mastercard enabled ATMs globally, shop online, and pay for goods and services at millions of merchants that accept Mastercard payment cards globally.
Based in the capital, Khartoum, QNB Sudan’s first branch was established in 2008. The bank provides a number of personal banking services and products, along with various business banking solutions.
QNB Group’s presence through its subsidiaries and associate companies extends to more than 31 countries across three continents, providing a comprehensive range of advanced products and services. It has more than 29,000 employees operating through 1,100 locations, with an ATM network of over 4,200 machines.
Mastercard branded cards have been issued and accepted across Africa for decades with millions of consumers enjoying the benefits of digital payments using plastic cards, mobile wallets, QR codes and virtual cards. With offices in Kenya, Nigeria, Senegal, Cote D’Ivoire, Johannesburg, Cape Town, Mauritius, Mozambique, Egypt and Morocco, Mastercard partners with stakeholders across banks, fintechs, mobile network operators, and governments to drive inclusive economic growth across Africa.