Thread: Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq

From Mastercard Website

Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq
Warka Bank Spearheads the Establishment of the Largest ATM Network in Iraq

Iraq, October 21, 2009 - Warka Bank, a leading investment and finance institution in Iraq, today announced the launch of a suite of MasterCard payment products for consumers and businesses in Iraq. In line with the launch, Warka Bank also unveiled the completion of its ATM network and the bank’s plan to establish the widest point-of-sale (POS) network in Iraq.

As an acquirer1, Warka Bank will process MasterCard credit and debit transactions through its extensive 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.

“As the payments market in Iraq continues to develop and gain momentum, we are committed to work with a leading global player like MasterCard Worldwide to bring consumers secure, flexible and convenient payment products,” said Mr. Saad Al Bunnia , Chairman and CEO, Warka Bank. “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 Worldwide, 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 p.ioneering bank in Iraq, to launch a suite of products, which represents a momentous stride in further developing the Iraqi payments landscape.”

Payment cards provide consumers a secure and convenient alternative to cash and checks when making purchases. Payment cards, such as MasterCard credit cards, provide consumers with a line of credit. MasterCard debit cards provide consumers with a tool to manage daily expenses via accessing their personal funds directly from their bank accounts. Both card programs allow consumers to enjoy global acceptance, flexibility, convenience and security as consumers go about their daily lives.

With Prepaid MasterCard cards, consumers who obtain the card simply need to upload the card with any amount of funds they would like to store on the card, and they can use it for shopping, bill payments or everyday purchases. Prepaid MasterCard cards are accepted wherever MasterCard is accepted. Another flexible and convenient option for a gift for friends and loved ones is the Warka MasterCard Gift card. MasterCard gift cards work just like prepaid MasterCard cards and are accepted globally.

About Warka Bank
Warka Bank is one of the largest financial institutions in Iraq, with a network of 120 branches and 350 ATMs located all over Iraq, with strong and growing banking services. The bank was established in 1999 and now it is considered by the central bank of Iraq and the other financial organizations as the first private bank in Iraq.

Warka Bank for investment and finance is mobilizing its substantial capital to take a cutting edge role in Iraqi finance. The bank has emerged as a lead financier, participating in many sectors such as power, water, communications, construction and various other sectors concerning the reconstruction of the new Iraq.


About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants.

http://www.mastercard.com/us/company...astercard.html

How important a payment processor in online business. Nowadays almost forex broker use master card for depositing or making withdrawal fund. Include, accent forex using master-card as the main payment for their traders. This is only to facilitate traders feel secure with their money.