Commercial Bank Launches Visa Commercial Pay for SMEs in Qatar

Commercial Bank has become the first bank in Qatar to introduce Visa Commercial Pay (VCP), a virtual payment platform aimed at enhancing how Small and Medium-Sized Enterprises (SMEs) manage supplier payments and corporate expenses. This innovative solution marks a significant advancement in the bank’s commitment to revolutionizing business-to-business (B2B) transactions within the region.

The launch of Visa Commercial Pay offers an exclusive service for Commercial Bank’s SME Visa business credit cardholders. This platform facilitates secure, automated, and highly controlled B2B transactions, allowing businesses to send card payments directly to suppliers’ accounts. Such enhancements underline the bank’s ongoing efforts to lead in digital payment solutions tailored for the evolving needs of businesses in Qatar.

Advancements in Payment Technology

With the introduction of Visa Commercial Pay, Commercial Bank addresses several critical challenges faced by SMEs through advanced virtual card technology. The platform generates unique virtual account numbers for each transaction, effectively minimizing the risk of fraud and providing finance teams with enhanced control over their expenditures.

Businesses can customize payment parameters, including merchant categories, geographic restrictions, and spending limits. These features are easily managed through an intuitive digital portal designed to integrate seamlessly with existing systems and digital wallets like Apple Pay. This integration enables instant, traceable payments alongside comprehensive remittance information. Real-time dashboards further enhance the user experience by offering strategic spend analytics and monitoring for policy compliance.

Commitment to Business Growth

Shahnawaz Rashid, Executive General Manager and Head of Retail Banking at Commercial Bank, emphasized the importance of optimizing cash flow in Qatar’s rapidly growing economy. He stated, “By replacing manual processes with intelligent automation through Visa Commercial Pay, we’re empowering businesses to reallocate resources from administrative tasks to growth initiatives.”

Shashank Singh, Visa’s Vice President and General Manager for Qatar and Kuwait, expressed that the launch of Visa Commercial Pay with Commercial Bank provides SMEs a more efficient and secure method for managing payments and expenses. He added, “As we progress, we remain dedicated to working closely with Commercial Bank to further tailor our solutions to support the digital transformation of local businesses and the growing needs of Qatar’s digital economy.”

Visa Commercial Pay is now available to eligible SME clients, reinforcing Commercial Bank’s commitment to delivering future-ready financial tools. Businesses interested in activating this service can do so through their relationship manager.