The most cutting-edge digital bank in Qatar, Commercial Bank, announced the beginning of UPI remittance service to India, making it the first bank in Qatar to provide this service.
In-depth details about the first UPI remittance service in Qatar is introduced by Commercial Bank for immediate transfers to India
Customers can rapidly transfer money between bank accounts utilising UPI (Unified Payment Interface), a real-time payment system, without providing IFSC numbers or bank account information when registering beneficiaries.
Customers can now launch UPI payments using Commercial Banking’s digital channels by utilising their UPI-IDs. Transactions can be started and finished in under 60 seconds, and they are accessible 24/7.
By contacting the relevant Indian Bank Digital Platforms and taking the necessary steps, the beneficiary can quickly create a UPI-ID.
Commercial Bank’s Group Chief Executive Officer Joseph Abraham made the following statement in response to the launch: “We are pleased to announce the launch of our new UPI remittance service to India. This is a huge advancement in our efforts to improve the customer experience and give our customers more practical, safe, and easily available financial services. UPI is a cutting-edge payment system that supports our goal of providing our clients with seamless financial services, and we are convinced that these services will help us fulfil our customers’ changing needs in the quick-paced digital world of today.
The implementation of UPI is another step towards improving the banking experience for our consumers, according to Shahnawaz Rashid, EGM and Head of Retail Banking at Commercial Bank. In the payments sector, UPI is a game-changer, and we are certain that it will completely alter the way our clients make payments.
Commercial Bank gives consumers another first of its kind service in Qatar which only stresses on the Bank’s claim that “anything is possible”.