QNB and Mastercard senior executives pose for a goup photo during the signing ceremony.
Doha, Qatar: QNB has become the first Qatari Bank to launch Mastercard virtual card numbers (VCN) for corporate clients to enable companies to create single-use or multi-use virtual cards with predefined limits, specific usage timeframes, and merchant category controls, showcasing its commitment to provide its clients with the highest levels of banking experience.
A signing ceremony was recently held between senior executives from QNB and Mastercard to commemorate this launch and formalise the new partnership between the two organisations. This landmark launch reinforces QNB’s leadership in the commercial payments space and highlights its strategic role in redefining how businesses in Qatar manage, control, and optimise their financial operations.
This agreement aims to bring further advancements and greater benefits to QNB’s corporate cardholders through innovative payment solutions and enhanced digital capabilities, marking a significant milestone in its mission to modernise corporate payments and strengthen the country’s transition toward a cashless, digitally enabled economy in line with the Economic Development pillar of Qatar National Vision 2030.
With Mastercard generating the virtual cards, the bank is introducing a new level of efficiency and transparency to business payments, replacing manual processes and paper-based instruments as QNB issues virtual card numbers instantly, offering convenience, security, and flexibility.
This agreement aims to bring further advancements and greater benefits to QNB’s corporate cardholders through innovative payment solutions and enhanced digital capabilities, marking a significant milestone in its mission to modernise corporate payments and strengthen the country’s transition toward a cashless, digitally enabled economy in line with the Economic Development pillar of Qatar National Vision 2030.
Through this platform, QNB enables companies to create virtual cards with simple steps through the integration of Mastercard’s innovative VCN platform with corporate approval workflows, giving organizations real-time visibility and control over every transaction.
By digitising payments that were traditionally executed via cheques and wire transfers, Mastercard is enhancing security, simplifying reconciliation, and supporting better working capital management through flexible settlement periods. Businesses benefit from up to 55 days of interest-free grace period offered by QNB, streamlined reconciliation, and the ability to automate recurring supplier and operational payments — all contributing to greater liquidity and operational agility.
Businesses will also benefit from QNB’s SmartData expense management tools, which provides a unified experience for virtual card generation, reporting, and analytics, with QNB issuing Mastercard-generated cards.
QNB Group is one of the leading financial institutions in the Middle East and Africa and is ranked as the most valuable banking brand in the MEA region.
