QNB and PayPal partnership increases e-commerce payment options in Qatar
Qatar National Bank (QNB), has partnered with PayPal, a leading global online payment service provider, to grant QNB retail customers more options for secured online purchases and other premium services from PayPal.
The new partnership launched exclusively with QNB will allow their customers to set up a PayPal account not only with a credit card, but also the option to link to a debit card or transfer money to PayPal from their bank accounts, providing a much wider base of customers access to online shopping.
A recent Northwestern University Qatar survey on MENA media usage showed that 48 percent of respondents in Qatar were either extremely concerned or very concerned about the security of their banking information online. The introduction of third party payment platforms such as PayPal to the Qatari market might enable the further growth of e-commerce where most consumers purchase products or services offline.
“PayPal is trusted throughout the world to enable millions of consumers to shop safely and conveniently online and through their mobile phone each day;” said Ali Rashid Al Mohannadi, executive general manager and chief operating officer. “This agreement allows our customers to enjoy greater flexibility and security when making online purchases with PayPal.”
As of today, QNB’s retail customers can create a PayPal account through the QNB website, a relatively simple process demonstrated at the press conference, and link to it their QNB credit or debit card and immediately start using PayPal to shop online.
QNB’s retail customers can also top-up their own PayPal accounts from their QNB current account and can send money via PayPal to any email address through the QNB website.
Commenting on the partnership, Elias Ghanem, Managing Director for PayPal Middle East and North Africa, noted that QNB is the first bank they have partnered with in the MENA region. “This partnership is a major milestone on our exciting journey in the Middle East and North Africa, to enable global e-commerce across the region by offering consumers and merchants a safe and easy way to buy and sell online and through their smartphones.”
“With 66 percent of consumers in MENA region using the internet to search for products and services and only one third of them making online purchases, the offline to online opportunity is significant,” added Mr. Ghanem.
To celebrate the partnership between QNB and PayPal, special offers are also being made available for QNB customers using PayPal. Offers will include deals from eBay.com, discounts from MarkaVIP.com, Aramex’s ShopandShip.com, ASOS.com and DealExtreme.com.