Posted on : Tue, 21 Sept 2010

Doha, 21 September 2010 -Qatar National Bank (QNB) today announced the launch of “eazypay”, the Bank’s newest innovation, which allows retail customers to transfer funds to friends and family using their mobile phones.

The eazypay solution is the first such service offered in Qatar. It is a real-time payment system that allows users to transfer funds via their mobile phone to any other QNB registered individual simply by knowing the recipient’s mobile phone number.

No account details are required. Transactions are completed using a simple SMS text message with the instruction "Pay" followed by the recipient’s mobile phone number and the amount to be transferred.

The funds are transferred almost instantly, and confirmation SMS text messages will be sent to both the sender and receiver.

The platform used by QNB’s eazypay is one of the most secure and user-friendly technologies available and benefits from 24-hour support from the QNB Customer Care Center.

The transactions are carried out over secure networks and effectively mean that registered QNB customers can utilize their mobile phones to send money to friends and family who must also be registered QNB customers.

With QNB eazypay, the range of mobile options can now go far beyond ringtones and mobile games to banking by transferring funds using any SMS-equipped phone.

First time users must 'Opt In' to the eazypay service by calling the QNB Customer Care Centre (44407777). Customers opting in will receive an SMS with instructions on how to activate the eazypay service.

The Bank also plans to extend the service by offering businesses and government entities access to this revolutionary technology, including additional bundled support services to supplement their existing e-payment solutions with mobile payment options via QNB eazypay.

For more information, call the QNB Customer Care Center or visit the Bank’s website www.qnb.com.qa

About QNB

Qatar National Bank (QNB), established in 1964 as the country’s first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%).

QNB has steadily grown to be among the largest banks in the region and is by far the leading financial institution in the country, with a market share approaching 40% of banking sector assets.

QNB offers a full range of Retail, Corporate, Investment, Treasury, Wealth Management, and Islamic Banking products and services for individuals, corporate institutions and government entities in Qatar as well as internationally.

QNB has the largest distribution network in Qatar, comprising 44 branches and offices (including 3 mobile branches), in addition to 12 Islamic branches and offices operated by QNB Al Islami, and more than 160 ATMs.

QNB was the first conventional bank in Qatar to offer Shari'a-compliant banking products and services through QNB Al Islami, established in 2005.

QNB’s international presence is rapidly expanding to include new locations around the world to supplement the long established branches in London and Paris.آ Currently QNB has presence in 23 countries including branches in Yemen, Oman Kuwait & Singapore as well as Representative Offices in Iran & Libya. An Islamic branch was recently inaugurated in Sudan, offering a full range of Islamic banking services and products.

QNB has also extended its regional reach by acquiring shares in various financial institutions including 34.3% stake in the Jordan based, The Housing Bank for Trade and Finance (HBTF), 23.8% of the shares of Commercial Bank International (CBI) based in the United Arab Emirates (UAE), 50% of the Tunisian-Qatari bank and 20% stake in the Doha-based Al Jazeera Islamic Company. QNB also retains 49% stake in QNB-Syria, a private stock company established jointly with other Syrian private and public sector institutions which started operations mid November 2009.

“QNB Capital” was established in 2008, providing an array of investment banking services to corporate, government and institutional clients within Qatar and globally. These include one of the best corporate finance teams in the GCC region offering extensive transaction experience, in depth advisory services – including mergers and acquisitions, equity, debt and project advisory – as well as first-class research capabilities.

QNB is among the highest rated regional banks from leading credit rating agencies including Standard & Poor’s, Moody’s, Fitch, and Capital Intelligence. The Bank has also been the recipient of many awards from leading international specialized financial publications for its innovative products, services and remarkable performance.

QNB has an active community support program and sponsors various social, educational, and sporting events