Qatar National Bank Ltd. has launched the first mobile-to-mobile funds-transfer service in Qatar, the Doha-based bank announced Sept. 22.
The free service, which the bank calls eazypay, enables consumers to transfer funds using their mobile phones to any other Qatar National-registered individuals (who are also account holders) via their mobile-phone numbers. The bank, which developed the service internally, is not looking to make money with the offering but instead use it to retain customers and add convenience.
To register, first-time users must opt in by calling the bank’s customer-service center and provide their account details. Once registered, the customers receive an SMS text message from the bank with instructions on how to activate the eazypay service. The bank transfers the funds from the accountholder's savings account to his eazypay mobile wallet.
Senders complete transactions using text messages sent to a designated number with the instruction “Pay” followed by the recipient’s mobile phone number and the amount to be transferred. No account details are entered when using the service, and the funds are transferred almost instantly. The bank also sends confirmation text messages to both the sender and receiver, Qatar National noted in a statement.
Qatar National says it operates a network of 44 traditional branches, 12 Islamic branches and more than 160 ATMs in Qatar.
