Warka Bank, an Iraq-based investment and finance institution, has launched a suite of MasterCard payment products for consumers and businesses in Iraq. In line with the launch, the bank has completed its ATM network and plans to establish the point-of-sale (POS) network in Iraq.
Warka Bank has said that it will process MasterCard credit and debit transactions through its ATM and POS networks throughout the market. The entire suite of products that Warka Bank has launched includes MasterCard standard, gold, platinum and corporate cards, as well as prepaid MasterCard and gift cards.
Saad Al Bunnia, chairman and CEO, Warka Bank, said: “As the payments market in Iraq continues to develop and gain momentum, we are committed to work with a leading global player like MasterCard to bring consumers secure, flexible and convenient payment products. We are delighted to have also launched the largest POS network in Iraq through our relationship with MasterCard. With each product catered to suit the lifestyle needs of consumers in Iraq, cardholders will now be able to better manage their finances, while leveraging the benefits that payment cards provide.”
Basel ElTell, vice president and regional manager, Levant, MasterCard, said: “With a variety of MasterCard payment solutions now available to consumers in Iraq, they will be able to pay for products and services at 29.4 million acceptance locations around the world where MasterCard cards are accepted and access their funds quickly and securely via more than 1.5 million ATMs worldwide. We are delighted to collaborate with Warka Bank, a pioneering bank in Iraq, to launch a suite of products, which represents a momentous stride in further developing the Iraqi payments landscape.”
