The Banking Executive Magazine - August Issue

Commercial Bank Commercial Bank FIRST IN QATAR TO OFFER 'VISA COMMERCIAL PAY' TO SMES The exclusive offering for Commer- cial Bank’s SME Visa business credit cardholders ushers in a new era of secure, automated, and highly con- trolled B2B transactions. Commercial Bank has launched Visa Commercial Pay (VCP), a ground- breaking virtual payment platform designed to transform how small and medium-sized enterprises (SMEs) manage supplier payments and cor- porate expenses. Commercial Bank becomes the first bank in Qatar to offer Visa Commer- cial Pay to SMEs and leading the way in revolutionising B2B payments. This exclusive offering for Commer- cial Bank’s SME Visa business credit cardholders ushers in a new era of secure, automated, and highly con- trolled B2B transactions. With Visa Commercial Pay, card pay- ments can be made directly to sup- pliers’ accounts, demonstrating Commercial Bank’s continued com- mitment to pioneering digital pay- ment solutions for businesses in Qatar. Building on its legacy of pioneering payment solutions, Commercial Bank’s introduction of Visa Commer- cial Pay addresses key business chal- lenges through advanced virtual card technology. The solution generates unique virtual account numbers for each transaction, significantly reduc- ing fraud risk and providing finance teams with enhanced control. SMEs can set customised payment parameters such as merchant cate- gories, geographic restrictions, and spending limits, all managed through an intuitive digital portal. The platform’s seamless integration with existing systems and digital wal- lets like Apple Pay, enabling instant, traceable payments and comprehen- sive remittance information. Real- time dashboards further provide strategic spend analytics and policy compliance monitoring. Shahnawaz Rashid, EGM and Head of Retail Banking at Commercial Bank, said: "In Qatar’s rapidly grow- ing economy, it is fundamental for businesses to optimise cash flow and operations. By replacing manual processes with intelligent automation through Visa Commercial Pay, we are empowering businesses to reallo- cate resources from administrative tasks to growth initiatives. Shashank Singh, Visa’s Vice-Presi- dent and General Manager for Qatar and Kuwait, said: “The introduction of Visa Commercial Pay with Com- mercial Bank offers SMEs a more ef- ficient and secure way to manage their payments and expenses. As we progress, we remain dedicated to working closely with Commercial Bank to further tailor our solutions to support the digital transformation of local businesses and growing needs of Qatar’s digital economy.” Visa Commercial Pay is now avail- able to eligible SME clients, reinforc- ing Commercial Bank’s commitment to delivering future-ready financial tools. Businesses can activate the service through their relationship manager. ISSUE 200 AUGUST 2025 the BANKING EXECUTIVE 41