BAGHDAD, IRAQ: Zwipe and the National Bank of Iraq are happy to confirm that they will pilot Biometric Payment Cards constructed on the Zwipe Pay platform, making it one of many first pilots of the subsequent generation contactless payment playing cards in Iraq.
The National Bank of Iraq (NBI) is one of many largest private banks within the country. Its majority possession and administration has been under Jordan’s Capital Bank Group since 2005. The financial institution provides a complete vary of banking services to corporates and consumers. Today, NBI has 19 branches in all main cities in Iraq, a key rising market within the Middle East seeking innovation in its payment ecosystem to minimize fraud and corruption and ship an excellent user experience.
Speaking on this development, Mr. Ayman Abu Dhaim, CEO on the National Bank of Iraq said, “We are very happy to partner with Zwipe, a number one technology model in biometric payment playing cards globally, and areeba, a number one payment service supplier within the region. We are eager to be amongst the primary banks within the area to introduce this world-class innovation, ensuring that our customers are extraordinarily well protected when utilizing payment playing cards whereas having fun with a nice user experience. We are aiming for the pilot to commence within the summertime of 2022.”
Mr. Issam Adra, General Manager of areeba Iraq, added: “Biometric payment playing cards will make the lives of NBI’s customers frictionless, safer, and extra secure. areeba is a well-known frontrunner in bringing wide-ranging payment improvements to markets. Zwipe is our well-established partner for biometric payment cards, and we’re very happy about extending our collaboration to Iraq.”
Ramzi Saboury, General Manager of Zwipe within the MENA Region said, “We are excited to partner with the National Bank of Iraq. I am happy that our collaboration with the Central Bank of Iraq has inspired main Iraqi issuers such as NBI to embrace next-generation payment cards. With forty million inhabitants and seven million payment cards, anticipated to develop to greater than 10 million over the subsequent four years in accordance to the World Bank, Iraq represents a significant growth alternative for Zwipe within the Middle East.”
National Bank of Iraq, owned by Jordan’s Capital Bank Group since 2005, provides a complete vary of innovative banking services to corporates and people in Iraq. With its extensive community of correspondent banks, Capital Bank stands as National Bank of Iraq’s gateway to global economies, because it facilitates sending and receiving internal and exterior transfers, granting credit score facilities, and offering commerce finance services. National Bank of Iraq can commerce on behalf of its clients within the Jordanian market and in global markets through Capital Investments, Capital Bank’s funding arm- in addition to offering buying and selling services within the Iraq Stock Exchange through its wholly owned subsidiary.
The acquisition that Capital Bank Group undertook towards the finish of 2020 of the Lebanese Bank Audi enterprise in Jordan and Iraq reinforced the group’s expansion and presence in these two markets, because the branches of the National Bank of Iraq elevated from thirteen to 19 branches in all main cities.
In addition, the National Bank of Iraq is furthering its regional expansion with the recently established operations within the Kingdom of Saudi Arabia.
www.nbi.iq