Vodafone Qatar has entered into a commercial partnership with Doha Bank to offer Vodafone Money Transfer (VMT) service thus enabling customers in Qatar to instantly send money internationally from their Vodafone mobile.
Vodafone Money Transfer service will be launched to Vodafone Qatar’s customers by the start of 2011. The service will continue testing over the coming months as part of the Qatar Central Bank’s approval prior to a commercial launch.
To use the service customers need to apply for a VMT account from Vodafone Qatar and money can be loaded onto their mobile phone from Doha Bank e-branches or can be loaded directly via a bank transfer.
Once customers have e-money on their VMT account they can then send it locally and abroad anytime they like or use it to pay for goods and services at local shops. Until e-money is transferred or spent it is stored for customers with Doha Bank.
Grahame Maher, CEO of Vodafone Qatar, said: “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.”
R Seetharaman, CEO of Doha Bank, said: “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.”