31 December 2024
Mr. Bahaa Abdulhussein, Chairman of Qi Card, with Mr. Li Zhixian, General Manager of Digital Payment Technology at Ant International
(Dubai, United Arab Emirates): — Qi Card, a leading player in Iraq’s fintech sector, has unveiled its groundbreaking third-generation app, SuperQi, in collaboration with Ant International, powers the future of global commerce with digital innovation headquartered in Singapore.
Powered by Alipay+ Wallet Tech solutions, SuperQi integrates a digital lifestyle super app with a fully functional digital bank, bringing a new era of financial inclusion and digital services to Iraq.
Since its launch in July 2024, SuperQi has seamlessly fused Western digital banking models with the best practices from Asia’s leading super apps.
Bahaa Abdulhussein, chairman of Qi, said “At Qi, our vision is to build a cashless Iraq by bringing financial services to every corner of our society. SuperQi is a testament to this commitment, simplifying financial transactions and fostering greater inclusivity for all Iraqis.
He added: “Our collaboration with Ant International is not just about advancing digital finance; it represents a transformative leap towards creating a broader digital ecosystem that addresses the needs of the unbanked population.”
Available in Arabic, English, and Kurdish, SuperQi aims to serve millions of Iraqis, offering a comprehensive suite of services that include scan-to-pay, money transfers, bill payments, loans, instalments, mobile recharge, shopping, travel and other payment solutions.
SuperQi also supports Iraq’s expanding financial infrastructure, with over 20,000 point-of-sale merchants and 10,000 cash-out agents.
The app’s accessibility is designed to meet the evolving financial and lifestyle needs of users, targeting over 30 per cent of Iraq’s population by 2026.
Qi has already made significant strides in improving financial inclusion in Iraq. The rate of banked individuals in the country has surged from a mere 5 per cent to nearly 50 per cent in recent years.
By enabling access to banking services through SuperQi, the fintech company aims to further accelerate this shift towards a cashless society.
“With SuperQi, we empower millions of Iraqis with accessible, efficient, and secure solutions, paving the way for a more interconnected, inclusive, and technologically advanced nation,” said Abdulhussein.
Qi focused on an ambitious expansion plan with the launch
With over 11 million cardholders and five million mobile app users, Qi plans to reach over 15 million app users within the next three years.
This is in line with its mission to reshape the way financial transactions occur in Iraq, offering unparalleled convenience for users to take control of their finances.
SuperQi’s impact goes beyond individual users — it is designed to create a thriving ecosystem for businesses as well. The app offers secure and flexible payment solutions, enabling businesses to connect with customers in new, innovative ways.
“The launch of SuperQi is a milestone in Iraq’s journey towards a cashless society,” said Ali Muneam, CEO of Qi. “By bridging the gap for millions who still rely on cash transactions, SuperQi is not just a financial solution, but a key step in modernising our nation’s economy.”
Luay Al Obaidi, chief product officer of SuperQi, emphasised the app’s broad appeal: “SuperQi represents a paradigm shift in how we address the lifestyle and daily needs of our diverse customer base. We invite businesses across Iraq to leverage SuperQi as a platform to deliver their services seamlessly and effectively.”
The app’s integrated features offer everything from digital banking to e-commerce, solidifying its place as a central platform for Iraq’s digital future.
Qi’s collaboration with Ant International has enabled the launch of a powerful financial ecosystem, one that stands poised to unlock new economic opportunities in Iraq’s growing digital landscape.
Committed to a cashless, digital-forward future
From its inception in 2007 to the launch of SuperQi, Qi has been a torchbearer for innovation, leadership, and sustainability. SuperQi signifies a monumental shift in Qi’s vision for fintech’s role in everyday financial management, after being rewarded as the Best Credit Solutions Provider in Iraq, offering a lifestyle super-app providing its users seamless experience all day, every day, for all their payments.
This reflects Qi’s commitment to a bold, cashless, digital-forward future, in line with the visionary goals set by Bahaa Abdulhussein.