QCB launched the first national prepaid card 'Himyan', with a registered trademark in Qatar
14 Mar 2023News
Qatar Central Bank (QCB) officially launched, 'Himyan', the first national prepaid card with a registered trademark in Qatar. The national prepaid card is now available at banks and can be used at all point of sale, ATMs, and online e-commerce transactions within the country.
The initiative is in line with Central Bank's efforts to develop electronic payments system in Qatar and enhance the financial inclusion in the country.
Banks including QIIB and Qatar Islamic Bank announced yesterday the availability of 'Himyan' for its customers.
'Himyan', which is named after the money bag used by merchants in ancient Arabia, is similar to electronic cards issued by global payment networks.
"The card will provide many advantages, as it can be issued by banking and nonbanking customers which enhance the financial inclusion in Qatar, specially that no minimum account balance is required for issuance," QCB announced in a previous statement.
The pioneering national prepaid card also includes contactless features.
The Central Bank also mentioned that the prepaid card "is considered more secure since transactions are made locally via the NAPS network" as it also "provides lower transaction fees for issuers, acquirers, and merchants".