QCB announces launch of Himyan Debit Card

Doha, Qatar: In line with the Third Financial Sector Strategy, and in the framework of developing the country s digital payments infrastructure, Qatar...

Doha, Qatar: In line with the Third Financial Sector Strategy, and in the framework of developing the country’s digital payments infrastructure, Qatar Central Bank (QCB) announced the official launch of Himyan Debit Card (Himyan).

The launch marks a qualitative addition to e-payment solutions available in Qatar and enriches offerings for local bank customers, while contributing to the promotion of financial inclusion in the country, and bringing progress toward its transition to a cashless society.

The Third Financial Sector Strategy aims to build a financial market that leads regionally in innovation, efficiency and investor protection while enabling the country to unleash its full economic potential in line with the Qatar National Vision 2030.

Himyan is the first national e-card with a registered Qatari brand owned by QCB. The card embodies one of the Bank’s pioneering national initiatives and comes as part of its ongoing endeavor to develop the digital payments infrastructure that can be leveraged to introduce new products to meet the growing demand for FinTech services. In addition, Himyan promotes Qatari brands in the local market, with a design that is based on international standards and best practices while utilizing the latest technologies.

Himyan as several unique advantages over those offered by similar local cards in other countries. In addition to being a registered Qatari brand, the Card is linked to its holder’s personal accounts at local banks, with lower transaction costs for card issuers, collectors and merchants. It also supports contactless transactions, with all transactions made locally via the national network “NAPS”. Himyan also uses smart chip technology and PIN codes. As a result, it provides flexibility for customers and enhances protection and security. This is in line with one of QCB’s key strategic objectives: preserving customers’ data and protecting their financial information.