First Iraqi Bank launches New Payment Service via Visa

By John Lee.

Iraq’s first digital bank, First Iraqi Bank, has announced the launch of Visa Direct for the first time in the Iraqi market, in partnership with Visa.

According to a press release, Visa Direct is a real-time point-to-point payment service that will enable Iraqi consumers to enjoy real time transfers for the first time.

It allows payments to be sent directly to a recipient’s eligible Visa debit card or credit card, using the recipient’s 16-digit Visa card number.

Mr. Kawa Junaid, founder of First Iraqi Bank, is quoted as saying:

“We are proud to offer this cutting-edge service to our customers in Iraq, and believe this is going to improve responsible financial access in the Iraqi market.”

Mario Makary, Levant Cluster Manager, Visa added:

“With Visa Direct cross border capabilities, First Iraqi Bank customers will be able to access, move and use their money and connect with over three billion cards globally, without compromising on accessibility and security. We strongly believe that this collaboration will create better user experiences by making it easier for FIB customers to access, move and use their money within a secure digital banking platform.”

(Source: First Iraqi Bank)