Bank of Palestine launches a digital payment service for merchants through QR code via "Banky" App
Bank of Palestine launched a new digital payment service for customers, enabling them to make instant payments to merchants easily, securely, and fast, by using the "QR CODE" via the "Banky" app.
This new digital service will enable the bank's customers to pay for their purchases directly and in a very quick way, with secure standards, to save time and effort for both the customer and the merchant. It also provides access to the merchant payment services through "QR CODE" before or after logging in to the "Banky" app. The commission charged to merchants is also very competitive, having a 0.25% fee deduction from the purchase value to encourage service providers and merchants to accept the use of QR code payments. Merchant Payment" through "QR CODE" - customers directly, from their smartphones, will be able to pay for any purchase or shopping most easily and straightforwardly, whereby the payment amount is deducted directly from the customer's bank account by scanning the QR code at a merchant's location without his involvement, or by using a receipt issued from the card acceptance device.
Mr. Mahmoud Al-Shawa, General Manager of Bank of Palestine, underscored that the bank never stops working with all its might to implement innovations and modern technologies in banking through developing digital banking services. This will work toward meeting the needs of its customers by fulfilling their financial aspirations to be able to assume its role on the economic and developmental levels toward achieving financial inclusivity.
This is an extension, according to Mr. Al-Shawa, of other digital payment services provided by the Bank of Palestine and an enhanced entry into other sectors within economic segments that have so far not been resolved.
It will ensure solutions for trading and sales procedures in terms of e-payments. He assured that expanding the bank's digital services for customers would make the bank more inclusive in this respect, especially with electronic payment cards and various tools for receiving payments, including e-commerce. Bank of Palestine was one of the very few banks that since the 1990s took an interest in the policy of digitization of the structure of the payment system in cooperation with Visa, Master Card, and UnionPay. It should be noted that the "Merchant Payment" service, employing the "QR CODE" from the Bank of Palestine Group, will provide a single "QR CODE" for making payments through applications offered by the Arab Islamic Bank, PalPay, and Bank of Palestine.