Qtel introduces mobile banking services in Qatar

Qtel has introduced a mobile money programme that will provide people in Qatar with a comprehensive suite of financial services available via the mobile phone.

The new portfolio of services, called Qtel Mobile Money, has been designed to provide financial services to people whether or not they hold a bank account. Qtel is working with QNB to deliver security and convenience for customers of the new Qtel Mobile Money services.

Qtel’s Mobile Money services have been tested and enhanced throughout 2010, with all funds used in the services being held in trust by QNB.

Following the successful launch of international airtime credit transfer in October 2010, which enables Qtel customers to transfer credit to India, the Philippines, Pakistan, Indonesia, Nepal, Bangladesh and Sri Lanka through an established airtime network, the telco has been looking to expand the range of financial services it offers.

In the near future, people in Qatar will be able to send money and credit as easily as an SMS. The range of services planned for launch in 2011 include instant cash transfers, cash payments to shops via mobile, and cash withdrawal from ATMs using Qtel Mobile Money accounts.