The Qtel Group has made a number of important strides in its Mobile Money strategy in recent weeks, with the launch of the Qtel Mobile Money service, a safe, fast, and easy-to-use “mobile wallet” (mWallet) solution.
Following the launch, customers in Qatar can transfer money in Qatar and to overseas destinations through the mWallet, using the safe, convenient, fast and easy-to-use Qtel service, the company said.
According to Qtel, the Mobile Money service opens up a huge range of possibilities for customers and is as easy to use as a mobile phone.
Following the launch in Qatar, the Qtel Group will roll out integrated mobile money services across the other key markets it serves, representatives added.
Dr. Nassar Marafih, CEO, Qtel Group, said, “The Qtel Group has made the launch of mobile money services across our operations a strategic priority, recognising the strong demand from our customers, and the important social benefits this service will provide. Mobile Money services provide access and security for a whole cross-section of the community that is under-served by traditional banking, and we aim to be a leader in the countries we serve.”
With mWallet, the Qtel Group’s customers will be able to use their mobile phone accounts to save and send money, top up their credit, make payments and transfer airtime to friends, relatives, employees and partners, sources said.
The integrated solution provided by Sybase, EastNets and BICS will be easier, more cost-effective and more convenient than traditional remittance channels, according to reports.
The Qtel Group’s operations cover regions with a high number of residents and foreign workers, who regularly transfer a proportion of their salaries overseas to their home countries. A large proportion of these workers do not have access to traditional banking facilities and are “under-banked,” relying on the services of money transfer kiosks to transport money home.
“As well as providing the Qtel Group with an important new revenue source, the provision of Mobile Money services will also have a demonstrable social impact. Customers will have greater security in sending money to friends and family overseas, as well as greater control over their spending at home,” concluded Dr. Nasser.