QNB Group, the largest financial institution in the Middle East and Africa, has linked with Mastercard to become the first bank in Sudan to have successfully performed an international payment card transaction.
The transaction was performed using a Mastercard virtual prepaid card product. QNB is also the first Bank in Sudan to have obtained an issuance license from Mastercard.
Through this partnership, QNB will issue and accept the Mastercard-branded payment cards in Sudan, allowing more people and businesses across the country to enjoy more convenient, secure and easy to use ways to pay locally and globally. The QNB Mastercard product is a secure and innovative digital payment solution that is accepted globally, including e-commerce websites.
Ms. Heba Al-Tamimi, General Manager – QNB Group Retail, commented: “We are delighted to have partnered with the Sudanese authorities and Mastercard on achieving this historic milestone.
“QNB Group is fully committed to investing and growing the payments landscape in Sudan, which will have a positive impact on the economic growth of the country. We look forward to bringing about best practices and market-centric strategies which will eventually benefit our customers in Sudan.”
Raghav Prasad, Mastercard’s Division President for Sub-Saharan Africa added: “With a commitment to include 1 billion people to the digital economy, Mastercard is continually working to open new markets and introduce more people to a world beyond cash. More so now, as the world contends with COVID-19, the digitisation of financial services continues to provide people and businesses with the tools they need to achieve financial security, grow their businesses, and improve quality of life.
“Therefore, we are delighted to have partnered with QNB to enable more people in Sudan to join the global interoperable payment ecosystem while contributing to strengthening trade and business locally.”
Expert Analysis: Building on fintech and payment innovations this collaboration can help elevate the financial efficiency of consumers in Sudan. Mastercard has a strong history in the region and is well placed to engage with consumers.