Network International, the region’s most comprehensive card solutions provider, recently signed a new agreement with International Bank of Qatar (IBQ) to provide it with a host of card management services.
The new agreement means that IBQ’s customers now have debit cards with a whole new, futuristic look and a truly global reach. The cards will be translucent and will feature an innovative curved corner, making them attractive and distinctive. This is the first time a translucent and truly chip-enabled card has been issued in any Gulf state.
Besides their striking new appearance, IBQ customers can now benefit from the ever-increasing reach and long list of advantages that Network International offers. Network International is the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East. It is the only third party processing vendor in the region capable of providing banks, the retail industry and financial institutions with complete EMV certified solutions as they migrate to the ultra-convenient EMV SmartCard technology. The company is a Principal Member of Visa International and MasterCard International offering customers the most comprehensive range of products and services in both the Issuing and Acquiring segment of the card industry, in the Gulf and Middle East region and beyond.
Among the many benefits that come out of Network International’s expertise is that the IBQ cards will contain a microchip that links the card to the Visa and Mastercard networks, enabling them to access their accounts, make purchases, use ATMs and manage their finances from anywhere in the world.
Michael H Williams, General Manager of IBQ, said, “We are delighted to be the first bank in Qatar to be able to offer this to our customers. Thanks to the expertise of Network International in this field, we are bringing the cutting edge of technology to our customers and giving them the freedom to access their money when and where they want it. It is an agreement that has enormous potential for growth and can be mutually beneficial to both of us.”
Ram Chari, General Manager Network International added, “This technology is being adopted by leading banks across the Gulf. This is our first deal in Qatar, and we are delighted to be work with International Bank of Qatar to give their customers access to a world of possibilities through our leading technology.”
The first chip-enabled cards have been delivered in December 2005, with all IBQ customers moving to the card by the first half of 2006.
ABOUT NETWORK INTERNATIONAL
Established in 1994, Network International LLC is today one of the leading credit card and payment services providers in the Gulf and Middle East Region geared to meet the needs of Banks, Financial institutions, and large and individual retailers.
The company is a Principal Member of Visa International and MasterCard International offering customers the most comprehensive range of products and services in both the Issuing and Acquiring segment of the card industry, in the Gulf and Middle East region and beyond.
In addition to the processing and management services offered, Network also provides Consultancy services ranging form Planning and designing, to developing of new products and services and providing sponsorship with Visa and MasterCard International.
To date Network International provides credit and debit card processing services, ATM sharing and ATM management services to more than 25 Banks in the region and manages one of the most extensive ATM networks exceeding 130 ATMs.
As a Merchant acquirer in the UAE, Network International enjoys more than 35% of the market share through its network of EFTPOS terminals installed. The company has also established Merchant Acquiring, processing recruitment partnership with third party customers namely American Express, Diners Club, EPPCO, DEWA, Dubai Police, Showtime, Arab Digital Distribution and E Company for E commerce merchant services.
ABOUT IBQ
IBQ has its roots as one of the oldest banks in Qatar having previously been known as Grindlays Qatar Bank and latterly owned by Qatar based investors. The bank went through two changes of shareholding until 2004 when the National Bank of Kuwait acquired 20% of the shares and also assumed responsibility for managing the bank. Since then the Bank has increased its capital and has developed a long strategic vision which has seen it embark on a growth strategy seeking also to broaden its business activities. As part of this process Mr Michael Williams recently joined the bank having had extensive previous experience in the UAE and with major international financial institutions such as Barclays Bank and Nomura Securities.
