Latest news with #QiCard
Tahawul Tech
7 days ago
- Business
- Tahawul Tech
Qi Card powers digital leap beyond borders
Bahaa Abdul Hadi, Chairman of International Smart Card, shares how the journey of Iraq's fintech pioneer transforms lives — from biometric smart cards to a digital-first financial future. International Smart Card (ISC), also known by its most popular product – Qi Card – has emerged as a force of digital disruption in Iraq and is making waves in foreign markets. Since its launch in 2007, International Smart Card has steadily redefined how millions of Iraqis access and use financial services. Spearheaded by visionary Chairman Bahaa Abdul Hadi, the company has evolved from rolling out the Middle East's first biometric smart card – Qi Card – to launching SuperQi app, a cutting-edge digital wallet, a digital bank powered by global tech leader Ant International. Hadi shares insights with on what lies ahead for fintech in Iraq and the wider MENA region. Interview Excerpts: Q: What have been the key milestones in International Smart Card 's journey since its inception in 2007, and how has it shaped the fintech landscape in Iraq and the broader Middle East? Backed by its holding company International Smart Card, we launched Qi Card in 2007 as the region's first biometric smart card, and within just two years, we reached 1.6 million users. By 2015, it was accepted by over 30,000 merchants, effectively turning government salaries into digital cash. During the pandemic, we surpassed 10 million users, ensuring uninterrupted payroll services in a time of severe crisis like the lockdown during Covid 19 pandemic. This year, we moved beyond plastic with the launch of SuperQi, our next-gen digital wallet, showing the world that Iraq can leapfrog into the future of fintech. Q: How did International Smart Card overcome the initial challenges in deploying this innovation, and what impact has it had on the Iraqi government's digital services? Connectivity was limited, and PIN-based authentication was unfamiliar to many users. Our solution was to store an encrypted fingerprint directly on the card, enabling secure offline verification. This approach not only addressed issues of fraud and illiteracy but also empowered the government to pay salaries and benefits digitally to over seven million employees, pensioners, and social-security recipients, with near-zero leakage. Q: The recently launched SuperQi app, in collaboration with Ant International, operates like a digital bank. What unique features does the app offer? SuperQi allows users to open an account in minutes, send money via phone numbers, scan-to-pay both locally and internationally, access instant instalment loans, and manage bills — all in Arabic, English, or Kurdish. With Ant's wallet technology, we're blending local trust with global infrastructure. It's a powerful example of how fintech can make finance inclusive and borderless – opens the gateways for the future of finance and open banking. Q: How does International Smart Card plan to further expand its user base and stay ahead of rapidly evolving fintech trends in the region? Our immediate focus is on moving our 11 million cardholders to SuperQi app and expanding the network of QR acceptance points. In 2025, we're launching an open developer portal to accelerate fintech innovation on our platform. 'We expect to surpass 15 million active digital wallets by 2027.' Q: How do you see fintech shaping economic growth and digital transformation in the region? Instant salary access is one of the most powerful ways to advance financial inclusion. It brings liquidity into households when it's most needed, reduces reliance on hard cash, and builds trust in digital systems. Fintech, at its best, should make money more accessible, more efficient, and more empowering — and that's the future we're committed to building in Iraq and taking it beyond borders.
Khaleej Times
7 days ago
- Business
- Khaleej Times
Qi Card champions Iraq's fintech shift at Seamless Middle East
Qi Card, Iraq's largest fintech firm, spotlighted its transformative role in shifting the country from a cash-dependent society to a digitally connected economy during the final day of the Seamless Middle East conference. Ahmed Khadum, chief investment officer of Qi Card delivered a keynote titled 'From Cash to Digital: How Iraq Built a Scalable Payment Ecosystem,' sharing insights on how Qi Card helped design and lead one of the Middle East's most ambitious national fintech transformations. Established in 2007 through a strategic public-private partnership between International Smart Card (ISC) and the Iraqi financial institutions, Qi Card has grown from a basic payment card into a wide-ranging financial services consortium. 'Our vision extends beyond Iraq - it is about serving broader communities and contributing to humanity at large. I am personally committed to ensuring that both my efforts and our projects make a meaningful impact on people's lives.', said Bahaa Abdul Hadi, the chairman and co-founder of the Qi Card, also known as the International Smart Card. 'Our next phase of expansion is focused on the UAE, where we are actively engaging with both public and private sector stakeholders. We are preparing to launch a range of initiatives spanning fintech, insurtech, logistics, and payments, along with several programmes aimed at giving back to society,' Hadi added. Today, Qi Card serves more than 12 million Iraqis, including government employees, pensioners, private sector workers, and social service communities. Its key services span salary disbursements, personal loans, digital banking tools and biometric security. 'Our story is not just about technology — it's about national resilience,' said Khadum. 'We built this system during some of Iraq's most difficult years yet managed to extend it to every province. That's the model we're sharing in Dubai to the global community of financial technology — how to enable modern financial services under pressure, with purpose, and at scale,' he added.
Zawya
23-05-2025
- Business
- Zawya
How Qi Card is digitising Iraq's financial future at Scale
Highlights Qi's nationwide reach – serving 12 million Iraqis, 600 merchants, 70,000 POS terminals Qi's regional relevance, global impact Deeply committed to ensuring both my efforts & projects make a meaningful impact on people's lives – says Chairman Bahaa Abdul Hadi Qi partnered with Ant International and launched SuperQi app - combining digital banking and lifestyle services Dubai —On the conclusion day of the Seamless Fintech Middle East Forum, Qi Card, Iraq's largest fintech company, took centre stage, presenting its pivotal role in transitioning the nation from a cash-dependent society to a digitally connected economy. Chief Investment Officer Ahmed Khadum delivered a keynote titled 'From Cash to Digital: How Iraq Built a Scalable Payment Ecosystem,' sharing insights on how Qi Card helped design and lead one of the Middle East's most ambitious national fintech transformations. Established in 2007 through a strategic public-private partnership between International Smart Card (ISC) and the Iraqi financial institutions, Qi Card has grown from a basic payment card into a wide-ranging financial services consortium. 'Our vision extends beyond Iraq — it is about serving broader communities and contributing to humanity at large. I am personally committed to ensuring that both my efforts and our projects make a meaningful impact on people's lives.', said Bahaa Abdul Hadi, the chairman and co-founder of the Qi Card, also known as the International Smart Card. 'Our next phase of expansion is focused on the UAE, where we are actively engaging with both public and private sector stakeholders. We are preparing to launch a range of initiatives spanning fintech, insurtech, logistics, and payments, along with several programs aimed at giving back to society,' Bahaa added. Today, Qi Card serves more than 12 million Iraqis, including government employees, pensioners, private sector workers, and social service communities. Its key services span salary disbursements, personal loans, digital banking tools and biometric security. 'Our story is not just about technology — it's about national resilience,' said Ahmed Khadum, Chief Investment Officer at Qi Card. 'We built this system during some of Iraq's most difficult years, yet managed to extend it to every province. That's the model we're sharing in Dubai to the global community of financial technology — how to enable modern financial services under pressure, with purpose, and at scale,' Ahmed said. Nationwide Reach Qi Card operates a nationwide infrastructure of over 70,000 point-of-sale (POS) terminals and serves over 6,000 merchants. Since 2018, it has disbursed over $4 billion in loans to more than 800,000 citizens, supporting small businesses, healthcare needs, and household improvements. Emergency lending programmes, such as Salifni, ensure workers can access short-term funds even during public sector salary delays. In 2024, Qi Card partnered with Ant International to launch the SuperQi app, combining digital banking and lifestyle services into a single platform. With features like scan-to-pay, peer transfers, bill payments, mobile recharge, and personal lending, SuperQi aims to serve 15 million users by 2026. Regional Relevance, Global Impact Qi Card's journey speaks directly to other economies working to reduce cash dependency. Strategic alliances — with Mastercard, Visa, Western Union, and Ant Group — have helped broaden its functionality, enable secure cross-border transactions, and deepen financial access in unbanked communities. As Iraq rebuilds and modernises its economic infrastructure, Qi Card remains at the forefront, championing financial accessibility, digital innovation, and long-term resilience. With a growing user base and a scalable, exportable model, Qi Card is positioned to lead not just Iraq's digital future, but also to inspire similar progress in frontier markets across the region and beyond.
Mid East Info
23-05-2025
- Business
- Mid East Info
How Qi Card Is Digitising Iraq's Financial Future at Scale - Middle East Business News and Information
Dubai—On the conclusion day of the Seamless Fintech Middle East Forum, Qi Card, Iraq's largest fintech company, took centre stage, presenting its pivotal role in transitioning the nation from a cash-dependent society to a digitally connected economy. Chief Investment Officer Ahmed Khadum delivered a keynote titled 'From Cash to Digital: How Iraq Built a Scalable Payment Ecosystem,' sharing insights on how Qi Card helped design and lead one of the Middle East's most ambitious national fintech transformations. Established in 2007 through a strategic public-private partnership between International Smart Card (ISC) and the Iraqi financial institutions, Qi Card has grown from a basic payment card into a wide-ranging financial services consortium. 'Our vision extends beyond Iraq — it is about serving broader communities and contributing to humanity at large. I am personally committed to ensuring that both my efforts and our projects make a meaningful impact on people's lives.', said Bahaa Abdul Hadi, the chairman and co-founder of the Qi Card, also known as the International Smart Card. 'Our next phase of expansion is focused on the UAE, where we are actively engaging with both public and private sector stakeholders. We are preparing to launch a range of initiatives spanning fintech, insurtech, logistics, and payments, along with several programs aimed at giving back to society,' Bahaa added. Today, Qi Card serves more than 12 million Iraqis, including government employees, pensioners, private sector workers, and social service communities. Its key services span salary disbursements, personal loans, digital banking tools and biometric security. 'Our story is not just about technology — it's about national resilience,' said Ahmed Khadum, Chief Investment Officer at Qi Card. 'We built this system during some of Iraq's most difficult years, yet managed to extend it to every province. That's the model we're sharing in Dubai to the global community of financial technology — how to enable modern financial services under pressure, with purpose, and at scale,' Ahmed said. Nationwide Reach Qi Card operates a nationwide infrastructure of over 70,000 point-of-sale (POS) terminals and serves over 6,000 merchants. Since 2018, it has disbursed over $4 billion in loans to more than 800,000 citizens, supporting small businesses, healthcare needs, and household improvements. Emergency lending programmes, such as Salifni, ensure workers can access short-term funds even during public sector salary delays. In 2024, Qi Card partnered with Ant International to launch the SuperQi app, combining digital banking and lifestyle services into a single platform. With features like scan-to-pay, peer transfers, bill payments, mobile recharge, and personal lending, SuperQi aims to serve 15 million users by 2026. Regional Relevance, Global Impact Qi Card's journey speaks directly to other economies working to reduce cash dependency. Strategic alliances — with Mastercard, Visa, Western Union, and Ant Group — have helped broaden its functionality, enable secure cross-border transactions, and deepen financial access in unbanked communities. As Iraq rebuilds and modernises its economic infrastructure, Qi Card remains at the forefront, championing financial accessibility, digital innovation, and long-term resilience. With a growing user base and a scalable, exportable model, Qi Card is positioned to lead not just Iraq's digital future, but also to inspire similar progress in frontier markets across the region and beyond. Ends
Mid East Info
28-04-2025
- Business
- Mid East Info
'International Smart Card' and 'MENA Fintech Association' Forge Strategic Partnership to Shape the Future of Digital Finance in the Region
Dubai, United Arab Emirates: The MENA Fintech Association (MFTA), a not-for-profit organisation based in Dubai and registered with the Abu Dhabi International Financial Centre (ADGM), today announced partnership with the International Smart Card (ISC), aka Qi, Iraq's foremost provider of digital payments, fintech solutions, and digital identity services, as its newest corporate member. The alliance is set to catalyse innovation, accelerate digital payment adoption, and drive inclusive financial transformation across the MENA region. Through this partnership, MFTA and ISC will co-host a curated series of high-impact events across key regional hubs. These events will bring together fintech visionaries, regulatory leaders, and technology pioneers to engage in dialogue and shape the regional fintech agenda. The initiatives will provide a platform to address regulatory evolution, foster collaboration, and highlight the next wave of digital finance. International Smart Card's entry into the fintech community of the MENA region marks a pivotal moment in deepening collaboration in fintech ecosystem, across borders and reinforcing the spirit to drive sustainable innovation and inclusive growth within the financial sector. ISC-MFTA joint initiatives will be developed in close coordination with region's central banks, authorities, and fintech ecosystem stakeholders. Country-wise key initiatives are set to be unveiled in the coming weeks, promising exciting opportunities for both fintech pioneers and the wider digital economy. About Internation Smart Card: International Smart Card (ISC), also known as Qi, was founded in 2007 through a partnership between the private sector represented by the Iraqi Electronic Payment Systems and the public sector represented by the state-owned banks in Iraq. ISC has 17 years of experience in the financial technology sector and is considered the largest issuer and acquirer in Iraq. The ISC has introduced the Qi Card, the first biometric card in the Middle East, which is addressing the significant challenges faced by government employees, pensioners, and beneficiaries of the social security network. About MENA Fintech Association: The MENA Fintech Association (MFTA) is a not-for-profit collaborative platform dedicated to fostering innovation, growth, and regulatory advancements in the financial technology sector across the Middle East and North Africa (MENA) region.
