Commercial Bank, Visa launch pay later feature for online buys
Tribune News Network
Doha
Commercial Bank, a leader in innovative digital banking solutions in Qatar, has partnered with Visa, a world leader in digital payments, to launch the Visa Installments Solution (VIS) in Qatar.
Commercial Bank is the first merchant acquiring bank globally to offer this innovative solution for eCommerce through Cybersource, a Visa Acceptance Solutions offering. This milestone allows credit cardholders in Qatar to access convenient installment payment options when shopping online.
Visa Installments Solution empowers credit cardholders to split their purchases into smaller, manageable payments. Available to all eligible credit cardholders, this feature is designed to provide financial flexibility, making large purchases easier and more affordable.
'This is a landmark moment for us,' said Shahnawaz Rashid, EGM and Head of Retail Banking of Commercial Bank. 'We are excited to be the first merchant acquirer globally to bring Visa Installments to the eCommerce space through our partnership with Visa. It demonstrates our dedication to innovation and delivering world-class financial solutions to our customers. As more consumers look for flexible payment options, this collaboration offers a secure, seamless way to make high-value purchases more manageable.'
'We are delighted to see Visa Installments Solution officially live in Qatar. This is the result of Visa's efforts in line with the Qatari government's digital commerce agenda to enable local banks and merchants in bringing innovative solutions to the country's retail sector. Our partnership with Commercial Bank – the first acquiring bank globally to enable VIS for eCommerce through Cybersource, is also a testament to Visa's commitment to delivering an enhanced digital retail journey for consumers in Qatar who seek financial empowerment and deserve better, more rewarding payment experiences,' said Dr Saeeda Jaffar, Visa's SVP and Group Country Manager for GCC.
The partnership reflects the growing consumer demand for installment payment options that cater to their financial preferences.
Visa, Commercial Bank, and local merchants are committed to providing cardholders with greater control over their finances through secure, accessible, and rewarding payment experiences.
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