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Qatar National Bank (QNB) the largest financial institution in the State of Qatar and the MENA region, is encouraging its customers to apply and use the revolutionary Tap and Pay payment solution by rewarding them with easy to redeem cash bonuses. This QNB incentive will be will run until July 10 2012

Tap and Pay is the first mobile Near Field Communication (NFC) payments program launched in Qatar that allows QNB customers to easily turn their mobile phones into their credit cards. QNB is now looking to reward those customers that apply for a Tap and Pay product, which can be either a SIM card for NFC enabled mobile phones or a Sticker, and start to use it for payments at accepting merchants. The key feature of this rewards period is that all new Tap and Pay users will receive cash bonuses upon activating their card and its first subsequent usage.

On their first Tap and Pay transaction customers will receive a cash payment equally to the transaction amount. This bonus will only be granted once and must be during the campaign period. Also, the maximum cash bonus received will be 100 QAR, even if the transaction amount is greater.

QNB also has a straightforward and effective redemption mechanism. The activation cash bonus will be transferred to all eligible client credit card accounts at the end of the promotion period. Note that this cash bonus will be paid only to those customers with active NFC products, providing that their credit card accounts don’t register any delinquencies.

The key benefit of carrying out payments using the Tap and Pay option is ease and convenience. Signatures and PINs are not required for purchases of QR100 or less, which makes Tap and Pay one of the fastest payment methods available in the market, which considerably improves the overall shopping experience. In addition, Tap and Pay offers an alternative to always having to carry around sums of money. QNB customers can purchase what they want without being limited to the amount of cash they have on hand.

Tap and Pay products also benefit from enhanced security. The mobile phone or sticker doesn’t even have to leave customer’s hands during payments. Each transaction uses state- of- the- art security that then generates a random verification code that cannot be counterfeited. This simultaneously protects customer funds and card details while putting the Bank’s customers at ease with added peace of mind.

Just last month, QNB was awarded the Best Mobile Application payment award for its Tap and Pay card option at the Smart Card Awards Middle East 2012 which was held in Abu Dhabi. The Bank’s Tap and Pay card utilises NFC on user’s phones.

NFC is a set of standards for smartphones and similar gadgets, which works by establishing radio communication with each other by either touching them together or bringing them into very close proximity with one another.

QNB is always looking to be the institute of choice for customers. Not only does QNB provide a quick and easy payment solution with its Tap and Pay option, but customers also have an overall improved shopping experience.

QNB is once again signaling its place at the forefront of the banking sector. In March of this year, the Bank launched its Tap and Pay card feature at QITCOM, ahead of its rollout Qatar wide. With its launch QNB also became the first bank to do so Qatar wide.

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