Vodafone has teamed up with Doha Bank to launch a mobile money
transfer service allowing consumers in Qatar to send money locally
and internationally via their handsets.
According to a statement, the Vodafone Money Transfer (VMT)
service will be tested over the next few months to gain Qatar
Central Bank approval before it is rolled out across the country at
the beginning of next year.
“Doha Bank makes a great partner for Vodafone
Money Transfer, they have the progressive attitude towards new
technology and new business models which are needed to make this
work.” said Grahame Maher, Vodafone Qatar’s CEO.
“Once Vodafone Money Transfer launches, it will establish Qatar as
a leader in mobile financial services and contribute to His
Highness Sheikh Hamad Bin Khalifa Al-Thani’s, Emir of Qatar’s 2030
In order to use the service, customers need to
apply for a VMT account from Vodafone Qatar and money can either be
loaded onto their mobile phone from Doha Bank e-branches or loaded
directly via a bank transfer.
The e-money can then be sent locally and
internationally at any time or be used to pay for goods and
services at local shops. The money is stored with Doha Bank giving
customers to option to retrieve the money as cash at any point.
“Doha Bank is very excited by this partnership
and is confident that Vodafone Money Transfer will be a great
success in Qatar,” said R Seetharaman, Doha Bank’s CEO.
“Doha Bank has first hand online remittance
experience with our D-Fast portal and an e-branch network that can
help build the footprint of Vodafone Money Transfer in Qatar. The
collaboration and this project is a good fit with Doha Bank’s
electric banking strategy.”