International Smart Card - Qi Card
TypeSemi-Government
IndustryFinancial services
Founded2007 (2007)
HeadquartersBaghdad, Iraq
Dubai, UAE
Area served
Worldwide
Key people
  • Bahaa Abdul Hussein (chair)
  • Ali Munaim (CEO)
Services
RevenueIncrease US$1.2 billion (2021)
Increase US$1.4 billion (2022)
Increase US$1.8 billion (2022)
Total assetsIncrease US$5.7 billion (2022)
Total equityIncrease US$6.2 billion (2022)
Number of employees
3500 (2022)
Websiteqi.iq & www.qicard.net

The Qi Card also known for International Smart Card ISC[1][2] is an Iraqi debit card and is the national credit card of Iraq. It is pronounced as 'key', and it is the reversed form of iq, the ISO 3166 code for Iraq. It has about 3,000 employees. As well as 9 million card users[3] .Its capital is estimated at more than 85 billion Iraqi dinars (2021).[4]

History

Iraq's two biggest state-owned banks, Rafidain Bank and Rasheed Bank,[5][6] together with the Iraqi Electronic Payment System (IEPS) have established a company called International Smart Card, which has developed a national credit card called 'Qi Card'.[7][8][9] The card is issued since 2008. According to the company's website: 'after less than two years of the initial launch of the Qi card solution, we have hit 1.6 million cardholder with the potential to issue 2 million cards by the end of 2010, issuing about 100,000 card monthly is a testament to the huge success of the Qi card solution. Parallel to this will be the expansion into retail stores through a network of points of sales of about 30,000 units by 2015.[10]

QI card is similar to other credit cards recognized worldwide with essential difference that the smart card deals with balances without direct contact with the server which is called (offline) to facilitate business in regions of no good telecommunication networks.[11][12][13][14]

References

  1. ↑ Bhowmik, Satarupa (2020-08-10). "Iraq's Qi Card enables customisation with new Ekhtiyari Card". Electronic Payments International. Retrieved 2023-05-12.
  2. ↑ "Bahaa Abdul Hussein | Founder of International Smart Card". www.bahaaabdulhussein.com. Retrieved 2023-05-12.
  3. ↑ Mr. Scott Munden - CEO of International Smart Card (ISC) at IFM Awards 2019, retrieved 2023-05-12
  4. ↑ https://www.cbi.iq/documents/Financial%20Stability%20Report%202013.pdf
  5. ↑ "Iraq's financial inclusion drive boosted by homegrown fintech". Financial Times. 2019-04-24. Retrieved 2023-05-12.
  6. ↑ "Qi Card to reach more than three million Mastercards® in circulation by 2021". Bloomberg.com. 2020-09-29. Retrieved 2023-05-12.
  7. ↑ Card, Qi. "Qi Card to reach more than three million Mastercards® in circulation by 2021". www.prnewswire.com (Press release). Retrieved 2023-05-12.
  8. ↑ "ZoodMall, OpenSooq adds Qi Card as payment method". thepaypers.com. Retrieved 2023-05-12.
  9. ↑ "Iraq banks its future on Qi Card | Chatham House – International Affairs Think Tank". 26 May 2019.
  10. ↑ "The secrets of the arrest of the "QI card" manager, and one of the "corruption dinosaurs" connected with me. – LH . Sirdaş". Archived from the original on 2022-01-21. Retrieved 2023-04-28.
  11. ↑ "Iraqi bank uses "Qi Card and MasterCard," to pay employees and retirees' salaries - Shafaq News". Iraqi bank uses "Qi Card and MasterCard," to pay employees and retirees' salaries - Shafaq News. Retrieved 2023-05-12.
  12. ↑ Team, Content (2020-10-01). "Qi Card Ignites Financial Inclusion In Iraq Through Electronic Payments And Loan Programs - World Finance Informs". Retrieved 2023-05-12.
  13. ↑ "الرافدين وكي كارد يعلنان عودة المبالغ المستقطعة من المتقاعدين". قناه السومرية العراقية (in Arabic). Retrieved 2023-05-12.
  14. ↑ "‫تحتفل بطاقة كي كارد بأكثر من 600،000 تحميل للتطبيق". البوابة (in Arabic). Retrieved 2023-05-12.
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