Home | News    Sunday 14 June 2020

Mastercard, QNB launch payment cards in Sudan

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June 14, 2020 (KHARTOUM) – QNB Group, the largest financial institution in the Middle East and Africa, becomes the first bank in Sudan to have successfully performed an international payment card transaction in partnership with Mastercard, the world’s second-largest payment processor.

The “transaction was performed using a Mastercard virtual prepaid card product. QNB is also the first Bank in Sudan to have obtained an issuance license from Mastercard, said The technology company in the payments industry in a statement extended to Sudan Tribune on Sunday.

Last April, the Electronic Banking Services Company (EBS) which is affiliated with the Central Bank of Sudan (CBoS) told Sudan Tribune that the credit card issuer assured them of their willingness to grant Sudanese banks licenses to work without specifying if any Sudanese banks applied for such a license.

In February 2020, three Sudanese banks agreed with Visa Inc allowing them to issue its payment cards in Sudan within three weeks maximum.

After the regime change in Sudan, financial authorities encouraged VISA and Mastercard to work with the Sudanese banks as part of its policy to attract foreign investors to the country.

Mastercard said its partnership with the QNB – Sudan will allow more people and businesses across the country to use ways to pay locally and globally.

Based in the capital, Khartoum, QNB Sudan’s first branch was established in 2008.

Sudan ranks 171 out of 190 countries regarding ease of doing business, according to the World Bank’s Trading Across Borders 2020 indicator.

(ST)

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