04/01/2021 | Press release | Distributed by Public on 03/31/2021 21:32
Doha Bank has collaborated with Visa to launch Visa Corporate Card solutions to cater for SME & corporate clients in Qatar
Doha Bank has collaborated with Visa, the world's leader in digital payments, to become the first bank in Qatar to launch a full suite of Visa Corporate Card solutions catering for SMEs and Corporate Clients in Qatar.
The launch revealed Doha Bank's new Visa Corporate Card solutions, whereby businesses and corporates are able to manage and have greater control over their employee expenses, travel & entertainment expenses and general business expenses in a simple and easy manner.
Businesses and corporates are now able to simply go online and access a self-service tool - Visa Payment Controls, where they are able to effectively manage their Visa Corporate Card program by establishing limits for each card, establishing account alerts and avoid improper business spend by placing robust controls around time, location, category and spending limits.
Doha Bank's key focus is to address 'Payments to Suppliers' for which the Visa Corporate Card can function as a payment tool for Qatar's key corporates and the SME sector - allowing for cash flow extension and stronger working capital management especially during the pandemic period where cash flow has been a key issue across the market.
Simplifying payments allows businesses to not only streamline their accounts payable function and pay their suppliers in a digital fashion with ease, but it gives back time to allow businesses to focus on their core objectives such as running a business and increasing revenue and profitability.
Doha Bank is also currently working with Visa to issue Virtual Corporate Cards in the near future - a technology that allows instant issuance of a one-time use virtual cards to suppliers in the 'buyer and supplier' supply chain. In addition, this will also benefit travel use cases when a one-time card is sent to the mobile phone of individuals/employees when they receive their hotel's final checkout bill to settle.
On this occasion Mr. Braik Al Marri - Chief Retail Banking Officer said, 'Doha Bank is proud and excited to add yet another product to its vast array of services. With the bank's focus to be a driving force in the local Qatari economy, the Doha Bank Visa Corporate Card will not only help us build our clientele but will also help corporates adopt smarter and robust technologies. Doha Bank and Visa share a strong relationship and have partnered on various 'first-in-the-market products' in the recent past. The launch of the Doha Bank Visa Corporate Card reinforces our commitment to our long-standing partnership with Visa and to the growing payment needs in the local economy.'
Dr. Sudheer Nair, Visa's Country Manager for Qatar, said, 'We are delighted to see Doha Bank become the first bank in Qatar to launch our full suite of Visa Corporate card solutions for the local businesses. After a difficult year for many businesses, particularly SMBs, our Visa Corporate Card solution is an attractive proposition for businesses looking to reduce cost and streamline expense reporting both easily and securely. We continue to work closely with our partners like Doha Bank in supporting local businesses in their recovery and the country's economic growth.'