Qtel, the international telecommunications company based in Qatar has surpassed the milestone of 100,000 registered members using its Mobile Money service in the country.
The Mobile Money mWallet, launched in October 2011 in collaboration with Qatar National Bank (QNB) provides Qtel customers the facility to transfer money anywhere in the world using their mobile phone. Recently, the company also tied up with MoneyGram, one of the largest money transfer companies in the world, offering the latter an entry into Qatar. Via the alliance, Qtel subscribers can register for the Mobile Money service and transfer funds to any place in the world with their mobile phone, utilizing MoneyGram’s 284,000 agent locations in 197 countries. Most importantly this partnership has opened up opportunities to subscribers who do not have an account or for whom traditional banking/financial services are beyond reach.
The Mobile Money service is accessible by registering over the mobile phone or visiting any Qtel outlet. After registration, customers can deposit money into their Mobile Money account through a number of channels such as the Qtel self service machines, Qtel outlets or direct transfer from QNB accounts. Then, using their mobile, they can transfer funds using the MoneyGram network to any location in the world with a local MoneyGram agent. The service being mobile platform agnostic instantaneously becomes available to any Qtel subscriber.
“Our mobile service provides security, convenience and global reach that extend these benefits to all our customers, including those who do not have a bank account,” said Waleed Al-Sayed, COO, Qtel. “Our collaboration with MoneyGram is a critically-important step that reinforces and demonstrates Qtel’s commitment to service and innovation. With a growing number of foreign workers working on critical projects in Qatar, there is an increasing need for individuals to be able to transfer money home safely and conveniently.”
During the Mobile World Congress held during the last week of February 2013 in Barcelona, Spain, Qtel and its operating companies came together under a new brand – Ooredoo, meaning “I want” in Arabic.
By Harish Narayanan
About the author – Todays guest writer is a Payments industry professional based out of Dubai. He has over 7 years of experience in various roles within the Cards & Payments business in the Banking industry and works at one of the largest banks in the Middle East.
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