Doha: Commercial Bank, the most innovative digital Bank in Qatar, announced the launch of UPI remittance service to India, becoming the first bank in Qatar to offer this service.
UPI (Unified Payment Interface) is a real-time payment system that enables customers to transfer funds between bank accounts instantly using UPI-ID without the need for bank account details or IFSC codes while creating a beneficiary.
Using Commercial Banking digital platforms customers can now initiate UPI payments using UPI-ID. Available 24/7, transactions can be initiated and completed within 60 seconds.
UPI-ID for the beneficiary can be easily created by visiting respective Indian Bank Digital Platforms and by following the steps required.
Joseph Abraham, Group Chief Executive Officer, Commercial Bank, commented on the launch saying: “We are delighted to announce the launch of our new UPI remittance service to India. This represents a significant step forward in our efforts to enhance the customer experience and provide more convenient, secure, and accessible financial services to our clients. UPI is an innovative payment system that aligns with our commitment to offer seamless banking services to our customers and we are confident that these services will support us to meet the evolving needs of our customers in today’s fast-paced digital world.”
Shahnawaz Rashid, EGM and Head of Retail Banking at Commercial Bank said: “We are excited to announce the launch of UPI, which is yet another step towards enhancing our customers’ banking experience. UPI is a game-changer in the payments ecosystem, and we are confident that it will revolutionize the way our customers make payments.”
Commercial Bank brings customers another first of its kind service in Qatar which only emphasizes on the Bank’s promise that “everything is possible”.