Alfardan Exchange partners with iPiD to launch Qatar's first real-time payee verification service
Qatar - By integrating iPiD Validate, Alfardan Exchange is pioneering a new era of secure, transparent, and fraud-resistant cross-border transfers, setting a new standard for Qatar's exchange industry.
Alfardan Exchange, a trusted and leading name in the field of exchange, financial transfers and precious metals in Qatar, has partnered with iPiD to launch the first real-time beneficiary validation solution in the exchange industry in Qatar.
By integrating iPiD Validate, Alfardan Exchange is pioneering a new era of secure, transparent, and fraud-resistant cross-border transfers, setting a new standard for Qatar's exchange industry.
Through iPiD's global API solution, Alfardan Exchange can now verify payee names and account numbers in real time, before a payment is sent. This advanced Know Your Payee (KYP) solution helps reduce fraud, prevent transaction failures, and deliver peace-of-mind to clients sending money abroad.
Bashar al-Waqfi, CEO of Alfardan Exchange, stated: 'Through our partnership with iPiD, we aim to offer a new generation of security and assurance to our clients' remittance experience.
'As the first company in Qatar to launch an instant beneficiary validation service, we take pride in leading the adoption of innovations that bring trust, transparency, and efficiency to every transaction.'
He added: 'I would like to extend special thanks to the Qatar Central Bank for its ongoing support of the exchange sector in the country and for issuing regulations that encourage improved service quality and innovation.'
Damien Dugauquier, CEO and co-founder of iPiD, added: 'This partnership is a bold step forward for Qatar's payments ecosystem. Alfardan Exchange's leadership in embracing real-time payee verification reflects a shared commitment to building trust, ensuring compliance, and protecting clients across borders. We're proud to support their journey with the most comprehensive verification network globally.'
The integration initiative marks a significant milestone for the exchange sector in Qatar. It is currently the only service of its kind available in the country, underscoring Alfardan Exchange's leadership in adopting cutting-edge fintech solutions to simplify transactions and enhance the client's experience.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Doha
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fintech News ME
5 days ago
- Fintech News ME
Emirates NBD Partners with iPiD for Real-Time Cross-Border Payee Verification
Emirates NBD has entered into a partnership with iPiD, a Singapore-based provider of Know Your Payee (KYP) validation services. The collaboration aims to enhance the bank's cross-border payment processes by enabling real-time beneficiary validation. Through the integration of iPiD's technology, customers will be able to verify payee names, IBANs, and account numbers before initiating a payment. This is expected to reduce the risk of fraud, prevent transaction errors caused by incorrect details, and improve overall efficiency. The move is part of Emirates NBD's wider efforts to strengthen its fraud prevention measures and expand its capacity for payee verification across international markets. Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said: 'At Emirates NBD we are committed to delivering an exceptional digital experience for our customers, underpinned by robust security and trust. Our partnership with iPiD, bringing global payee verification capabilities to enhance cross-border payments, reinforces this commitment. Together, we are ensuring safer, more efficient digital payments for our customers, domestically or across borders.' Damien Dagauquier, CEO and Co-founder of iPiD, added: 'With our advanced API and validation capabilities, we are empowering institutions like Emirates NBD to proactively combat fraud and deliver seamless payment experiences.'
Hi Dubai
29-05-2025
- Hi Dubai
Emirates NBD Partners with iPiD for Secure Global Payee Verification
Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has announced its partnership with iPiD, a global Know Your Payee (KYP) validation provider. The collaboration will enable Emirates NBD to provide real-time beneficiary validation for cross-border payments. With this solution, customers can verify payee names, IBANs, and account numbers in real time, before a payment is made. This will help reduce fraud, prevent transaction failures due to inaccurate details, and boost efficiency. By integrating iPiD's solution, Emirates NBD strengthens its fraud prevention strategy while laying the groundwork for scalable payee verification across global markets. This collaboration underscores Emirates NBD's leadership in embracing innovative and advanced technologies to offer a safer banking experience. Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said: At Emirates NBD we are committed to delivering an exceptional digital experience for our customers, underpinned by robust security and trust. Our partnership with iPiD – bringing global payee verification capabilities to enhance cross-border payments– reinforces this commitment. Together, we are ensuring safer, more efficient digital payments for our customers, domestically or across borders. Damien Dagauquier, CEO & Co-founder at iPiD, said: Our partnership with Emirates NBD marks a significant milestone in our mission to make global payments simpler and safer for everyone. With our advanced API and validation capabilities, we are empowering institutions like Emirates NBD to proactively combat fraud and deliver seamless payment experiences. News Source: Burson Communications
Zawya
28-05-2025
- Zawya
Emirates NBD partners with iPiD to enhance payment safety with global payee verification
Dubai, United Arab Emirates: Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has announced its partnership with iPiD, a global Know Your Payee (KYP) validation provider. The collaboration will enable Emirates NBD to provide real-time beneficiary validation for cross-border payments. With this solution, customers can verify payee names, IBANs and account numbers in real time, before a payment is made. This will help reduce fraud, prevent transaction failures due to inaccurate details and boost efficiency. By integrating iPiD's solution, Emirates NBD strengthens its fraud prevention strategy while laying the groundwork for scalable payee verification across global markets. This collaboration underscores Emirates NBD's leadership in embracing innovative and advanced technologies to offer a safer banking experience. Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said: 'At Emirates NBD we are committed to delivering an exceptional digital experience for our customers, underpinned by robust security and trust. Our partnership with iPiD – bringing global payee verification capabilities to enhance cross-border payments– reinforces this commitment. Together, we are ensuring safer, more efficient digital payments for our customers, domestically or across borders.' Damien Dagauquier, CEO & Co-founder at iPiD, said: 'Our partnership with Emirates NBD marks a significant milestone in our mission to make global payments simpler and safer for everyone. With our advanced API and validation capabilities, we are empowering institutions like Emirates NBD to proactively combat fraud and deliver seamless payment experiences.' About Emirates NBD Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion. Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region. Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water. For further information on Emirates NBD, please contact: Ibrahim Sowaidan Senior Vice President Head - Group Corporate Affairs Emirates NBD e-mail: ibrahims@ Burson Dubai, UAE Email: emiratesnbd@ About iPiD iPiD (International Payee Identity) empowers financial institutions to implement Know Your Payee (KYP) processes globally. By offering a single global API, iPiD simplifies payee verification, mitigates fraud risks, and enhances trust in payment ecosystems worldwide. To learn more about this, visit or contact Adriena Lim, Growth & Brand Director at
