Commercial Bank has made history as the world’s first merchant acquiring bank to enable the Visa Installments Solution (VIS) on eCommerce platforms through Visa Acceptance Solutions. This groundbreaking partnership with Visa introduces a flexible and convenient payment option for online shoppers in Qatar.
As a pioneer in innovative digital banking solutions, Commercial Bank collaborated closely with Visa to launch VIS via Cybersource, Visa’s global payment acceptance platform. This achievement marks a significant milestone. It allows credit cardholders in Qatar to spread their online purchases into easy installments. Consequently, this initiative aligns with Qatar’s digital commerce agenda. It enhances customer experience and boosts the local retail sector.
Shahnawaz Rashid, Executive General Manager and Head of Retail Banking at Commercial Bank, said, “We are thrilled to be the first merchant acquirer globally to introduce Visa Installments in the eCommerce space. This launch demonstrates our dedication to bringing cutting-edge solutions that benefit both merchants and consumers.”
Furthermore, Dr. Saeeda Jaffar, Visa’s Senior Vice President and Group Country Manager for the GCC, expressed her enthusiasm: “The official launch of Visa Installments Solution in Qatar is a testament to Visa’s commitment to supporting local banks and merchants. It reflects our joint efforts to empower Qatar’s digital economy and provide innovative payment options to customers.”
Commercial Bank’s pioneering role as the first acquirer globally to enable VIS on eCommerce highlights its leadership in digital banking innovation. This initiative not only offers flexible payment plans. It also encourages greater online shopping confidence and convenience.
In summary, by enabling Visa Installments Solution on eCommerce, Commercial Bank sets a new standard in Qatar’s retail and digital banking landscape. This move supports the country’s broader vision. It aims to enhance digital commerce and improve financial accessibility for consumers.
