Qatar’s first licensed e-wallet works on any mobile network
Vodafone Qatar’s Infinity Payment Solutions (IPS) has announced the launch of iPay, Qatar’s first licensed e-wallet. Though a wholly owned subsidiary of Vodafone, the fast moving IPS is a separate financial entity and the independent unit is known for being creative and versatile, adapting instantly in a fast moving market.
Licensed by Qatar Central Bank, iPay is a secure e-wallet developed by IPS in partnership with Commercial Bank, Gulf Exchange and Paytm. iPay offers customers direct access to instant local transfers to all banks and wallets under the Qatar mobile payment network, as well as international remittance and merchant payments.
iPay is operator agnostic, meaning that the wallet will work with any mobile operator and is not just confined to Vodafone. It is available for all consumers in Qatar, regardless of their telecom service provider. Customers can register through the iPay application available to download on Apple and Google Play stores in less than 60 seconds and conduct fast and secure local and international remittances. Typically it will be used to facilitate payments with the subscriber’s friends and family and instant merchant payments at their favourite outlets and select utility payments services.
The new iPay system supports Qatar’s move towards a more digitised economy, according to Diego Camberos, chief operating officer at Vodafone Qatar. It also adds significant weight behind the efforts Qatar Central Bank’s push to achieve a cashless economy by 2030. Vodafone is only responding to the growing demand for accessible digital fintech solutions, said Camberos. This trend was first spotted globally in 2020 and has continued to grow in significance since then. “This is part of our wider digital transformation agenda for Qatar to support customers quickly and efficiently via cutting-edge self-service technologies,” said Camberos.