Commercial Bank Launches Visa Commercial Pay for SMEs in Qatar

Commercial Bank has made a significant advancement in Qatar’s banking sector by introducing Visa Commercial Pay, a virtual payment platform tailored for Small and Medium-Sized Enterprises (SMEs). This launch makes Commercial Bank the first institution in Qatar to offer this innovative service, which aims to enhance how businesses manage supplier payments and corporate expenses.

Transforming B2B Transactions

The new service is exclusively available to Commercial Bank’s SME Visa business credit cardholders, marking a pivotal shift toward automated, secure, and controlled B2B transactions. With Visa Commercial Pay, payments can be directed straight to suppliers’ accounts, underscoring the bank’s dedication to advancing digital payment solutions for businesses across Qatar.

This initiative builds on Commercial Bank’s legacy of providing cutting-edge payment solutions. Visa Commercial Pay leverages advanced virtual card technology, generating unique virtual account numbers for each transaction. This feature significantly mitigates the risk of fraud while granting finance teams improved control over expenditures.

SMEs utilizing this platform can customize payment parameters, including merchant categories, geographic restrictions, and spending limits, all managed through an easy-to-use digital portal. The service seamlessly integrates with existing systems and digital wallets such as Apple Pay, facilitating instant, traceable payments along with detailed remittance information. Additionally, real-time dashboards offer strategic spend analytics and policy compliance monitoring.

Leadership Perspectives

Shahnawaz Rashid, Executive General Manager and Head of Retail Banking at Commercial Bank, emphasized the importance of this service in Qatar’s rapidly evolving economy. He stated, “In Qatar’s rapidly growing economy, it is fundamental for businesses to optimize cash flow and operations. 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, Vice President and General Manager for Visa in Qatar and Kuwait, echoed this sentiment. He remarked, “The introduction of Visa Commercial Pay with Commercial Bank offers SMEs a more efficient and secure way to manage their payments and expenses. 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.”

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