The Banking Executive Magazine - April 2023 Issue

CHATGPT Promises and Pitfalls QNB Group and Mastercard recently signed a long-term agreement to ini- tiate collaboration with regard to commercial credit cards and pay- ment products. The signing ceremony took place at QNB in the presence of key execu- tives from both organisations. The agreement is set to bring about further advancements and greater benefits on the cards and payments front, specifically to QNB’s corporate and SME banking customers. QNB commercial cards and pay- ment solutions entitle its customers to manage their business more effec- tively with the most relevant product features with the highest security standards. The bank recognises that its strategic collaboration with local businesses is vital for achieving the Qatar National Vision 2030, which aims to drive economic diversification. On the occasion, Yousef Mahmoud al-Neama, group chief business offi- cer, QNB, said: “We are very pleased with this new partnership with Mas- tercard, and we look forward to con- tinuing delivering the most comprehensive and relevant pay- ment products to our business com- munity. “QNB is fully committed to serving its customers with highly person- alised, innovative and rewarding payment solutions. We thank Master- card for the support provided, and we are certain that the partnership will deliver on its objectives.” QNB’s commercial payment solu- tions come with highly customised merchant and card transaction con- trol, giving companies greater con- trol of the payment activities. Customers have access to rich and detailed information through the QNB Mastercard Smart Data plat- form, which they can use to bring greater efficiencies to their busi- nesses. Other key benefits include the cor- porate liability waiver, which pro- tects corporations against any potential misuse of cards. J K Khalil, cluster general manager (Mena East) Mastercard, said: “As a trusted technology leader, ecosystem developer and proud supporter of Qatar’s business community, we are delighted to join forces with QNB to empower businesses of all sizes with world-class payment solutions to help optimise their operations and improve credit and payment terms between large buyers and their sup- pliers. “This milestone announcement builds on our ongoing commitment to support the government’s efforts to drive digital transformation, financial inclusion, and economic diversifica- tion.” QNB Group is currently ranked as the most valuable bank brand in the Middle East and Africa. ISSUE 172 APRIL 2023 the BANKING EXECUTIVE 19 Qatar's QNB, Mastercard SIGN COMMERCIAL CREDIT CARDS AGREEMENT