Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq

[cloaked]

Warka Bank Launches Suite of MasterCard Payment Solutions in Iraq

Warka Bank Spearheads the Establishment of the Largest ATM Network in Iraq

Iraq, 19 October 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 acquirer[1], 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 than1.5 million ATMs worldwide . We are delighted to collaborate with Warka Bank, a pioneering 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.

http://www.warka-bank.com/inner.php?type=3&id=45

[iamrealdreamer]

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.

It's not far off!

go online with Warka and sell 10,000 shares, Warka deposits the money in my IQD account, I transfer it over to my USD account online and then simply click on the "load my Mastercard" button and wala,

an hr. later I am headed to the nearest ATM for some cash and to the airport for a flight to an unknown exotic beach, the airfare and trip paid for on my "pre paid" Mastercard of course! :party:

Naturally I will load up the wife's card with the same amount :giggle:

[Fishindinar]

Or just get a gold mastercard and use it as you wish, then have the balance paid using your Warka account. All your transactions are a debt and not income.:rock:

[cloaked]

It's not far off!

go online with Warka and sell 10,000 shares, Warka deposits the money in my IQD account, I transfer it over to my USD account online and then simply click on the "load my Mastercard" button and wala,

an hr. later I am headed to the nearest ATM for some cash and to the airport for a flight to an unknown exotic beach, the airfare and trip paid for on my "pre paid" Mastercard of course! :party:

Naturally I will load up the wife's card with the same amount :giggle:

is this mr. i? i see the words "excotic beach" j/k :giggle:


Or just get a gold mastercard and use it as you wish, then have the balance paid using your Warka account. All your transactions are a debt and not income.:rock:

brilliant my dear watson! :rock:

[Las vegas Kid]

Or just get a gold mastercard and use it as you wish, then have the balance paid using your Warka account. All your transactions are a debt and not income.:rock:

This has been my thought all long !!!!:giggle: I cant wait to go out to diner on my Warak Master Crad !!!!

[Wealthy Future]

Sorry folks, you must be an Iraqi citizen or business in Iraq to use the cards. Maybe you could take that vacation to Baghdad. I hear the beachs are great with plenty of bikini clad girls. Good Luck

It may be Iraqi only for now, but in the near future let's hope it opens up to the world. :nerd:

[iamrealdreamer]

Sorry folks, you must be an Iraqi citizen or business in Iraq to use the cards

your kidding right? :headbang:

give it time!

does chase or BOA or any others here only allow theirs to be used in the USA?

wake up :giggle:

[Fishindinar]

Sorry folks, you must be an Iraqi citizen or business in Iraq to use the cards. Maybe you could take that vacation to Baghdad. I hear the beachs are great with plenty of bikini clad girls. Good Luck

Who said that?

[lbhot]

I have carried an Al-Warka Bank VISA card for over two years and I used it in many countries. I am now waiting on my new mastercard to arrive, they said it will be use the same as my VISA and I will have access to more ATM's. The VISA card I had to go to a couple ATM's to find one that would take it but I've always found one no matter which country I was in. I had to go to about four different ones in the UAE but I found one. HSBC ATM's takes it.

When you say you can only use it in Iraq or you have to be an Iraqi is a ture statement.

[jaycon62]

I used it in many countries.,,When you say you can only use it in Iraq or you have to be an Iraqi is a ture statement ???????????????? Is it Iraqi only or Global?????????????

[lbhot]

You can use the card anywhere, it is a global card.

[James]

7047

7048

Contact Warka for more information. I hope they PDF these files but i'm not complaining.

[RoyalBeluga]

So these ATM Mastercards, are they the debit cards that have been mentioned? Can you use these cards in any country that has ATM's with the Mastercard logo? :thinking:

[James]

I had their first Visa card and it worked in the USA. It was a debt card with a Visa loga. As long as you have the amount in an account that's what you can withdraw. On my online account it has an account for Visa.
I used it in an ATM machine and inside the bank and with drew $50.
I imagine MasterCard will work the same way.

[RoyalBeluga]

Has anyone managed to apply for one of these Mastercards yet? Be sure to post a picture of it here, as did James with his Visa card :rock:

[cloaked]

I had their first Visa card and it worked in the USA. It was a debt card with a Visa loga. As long as you have the amount in an account that's what you can withdraw. On my online account it has an account for Visa.
I used it in an ATM machine and inside the bank and with drew $50.
I imagine MasterCard will work the same way.

Hey J :hi: Does your have an expiration on it?

[James]

Yes Visa was only good for a year. MasterCards are longer before renewal.
I have my paper work sent so now I'm waiting for my deliveryman to arrive.

[RoyalBeluga]

Yes Visa was only good for a year. MasterCards are longer before renewal.
I have my paper work sent so now I'm waiting for my deliveryman to arrive.

Cool, be sure to take a picture of it for us to see ok? Which have you gone for, the credit or the debit? :thinking:

[calstar]

Yes Visa was only good for a year. MasterCards are longer before renewal.
I have my paper work sent so now I'm waiting for my deliveryman to arrive.

Keep us posted! :party:

[RoyalBeluga]

Yes Visa was only good for a year. MasterCards are longer before renewal.
I have my paper work sent so now I'm waiting for my deliveryman to arrive.

I would assume they send it by courier? I'm undecided about having one myself, is it really worth it?

[James]

I would assume they send it by courier? I'm undecided about having one myself, is it really worth it?

Yes by Courier. Well if/when the dinar RV's and my stocks rise or I sell some stock then I'd say "yes" having a card would be benificial.
Right now it's a novelty.

[RoyalBeluga]

Yes by Courier. Well if/when the dinar RV's and my stocks rise or I sell some stock then I'd say "yes" having a card would be benificial.
Right now it's a novelty.

Makes sense I guess :nod: How much did it cost you for courier?

[James]

Got a copy of the shipping bill from Warka this morning. (jpg) $60 to ship this card to me, from my account.
Let you know when it arrives, Warka said they wouldn't deduct any money until I confirmed receiving it.

[Crow]

Got a copy of the shipping bill from Warka this morning. (jpg) $60 to ship this card to me, from my account.
Let you know when it arrives, Warka said they wouldn't deduct any money until I confirmed receiving it. James very good!:yes: This will be an easy way to access funds, I see the day when having a Warka Card will be chic....is that expression still used? :thinking:

[Seaview]

I think you mean 'chic'. :wondering: :giggle:

[Crow]

I think you mean 'chic'. :wondering: :giggle: Thanks Seaview....bad choice of word.:doh:

[Seaview]

Try 'hip'. :happy:

[cloaked]

James very good!:yes: This will be an easy way to access funds, I see the day when having a Warka Card will be chic....is that expression still used? :thinking:


This will be so cushy to have! :rock: Chic is a great word - especially when used with shabby. :giggle:

[RoyalBeluga]

Try 'hip'. :happy:

Hip replacement more like :dance:

:giggle:

[RoyalBeluga]

Got a copy of the shipping bill from Warka this morning. (jpg) $60 to ship this card to me, from my account.
Let you know when it arrives, Warka said they wouldn't deduct any money until I confirmed receiving it.

Cool, be sure to post a pic like you did with your Visa for all to see. I wonder if they are the flat unembossed cards - they're the latest style I think :thinking:

[RoyalBeluga]

Got a copy of the shipping bill from Warka this morning. (jpg) $60 to ship this card to me, from my account.
Let you know when it arrives, Warka said they wouldn't deduct any money until I confirmed receiving it.

I simply must have one, don't see why not. Like you say a novelty for now but a necessity in the future :rock:

Can you use these debit and credit mastercards in stores to purchase goods? I would assume they have a chip and pin?

[Seaview]

This will be so cushy to have! :rock:
I think you mean 'cushty'. :wondering: :giggle:

luvly, jubbly. :handshake::yelrotflmao::yelrotflmao:

[James]

I simply must have one, don't see why not. Like you say a novelty for now but a necessity in the future :rock:

Can you use these debit and credit mastercards in stores to purchase goods? I would assume they have a chip and pin?

My Visa did have pin code, and yes I tried it, withdrew $50. It showed up on my bank statement ( which at the time was not online so you can imagine emailing Warka and waiting for a reply to see your balance)

Now with online banking it's easier to check accounts and shift funds as needed.

[latefordinar]

ATM's in Iraq... Does anyone know what denominations of currency are dispensed by the ATM's? Are 1000 500 250 50 IQD notes currently used for ATM debit withdrawals?

Are 25000 10000 5000 IQD notes the ONLY denominations used for ATM withdrawals?

Are ATM's in Iraq configured to dispense only in IQD. (I would think so)

How much cost and technical effort and (time) are required to re-configure the denominations an ATM Network can dispense.

Are the ATM's in Iraq being accepted and used with increasing frequency?

Other foreign countries using ATM machines for debit withdrawals.... Have any banks completely shut down their entire ATM network at the same time? (For maintenance) :thinking:

[iamtherealdreamer]

How much cost and technical effort and (time) are required to re-configure the denominations an ATM Network can dispense.

I have an ATM, I can set the ATM charge amount and denomination ($20, $50) to anything I want, takes 5 minutes. So each and every ATM in Iraq has to b done by a human. Which wouldn't b difficult as they don't have many, as of yet. :rock:

[James]

Both cards arrived today. I will post a picture later today.

Just a side note - Both cards had my last name spelled wrong. Each card was different. :headbang:
I have written Warka and am confident that it will be corrected at no additional cost to myself.

[RoyalBeluga]

Both cards arrived today. I will post a picture later today.

Just a side note - Both cards had my last name spelled wrong. Each card was different. :headbang:
I have written Warka and am confident that it will be corrected at no additional cost to myself.

I notice there's no chip on either of them, I don't know about the US but here in UK we have chip and pin devices in stores where you push your card into a slot, it reads the chip and then asks you to enter your pin - at which point your purchase is complete. These cards look like swipe only cards. Are chips not on mastercards in the US? I've added an image to show what I mean :tongueout:

http://www.thetechherald.com/media/images/200810/CreditCard1.jpg

[James]

no chip that I see. :nerd:

[RoyalBeluga]

no chip that I see. :nerd:

Can't believe they spelt your name wrong, you must be a little frustrated :giggle:

[James]

Can't believe they spelt your name wrong, you must be a little frustrated :giggle:

A little. But they are taking care of it. "Regarding your cards we will print them again and we will take over the DHL charges "

[RoyalBeluga]

A little. But they are taking care of it. "Regarding your cards we will print them again and we will take over the DHL charges "

I had no doubts, Warka Bank is tops. :yes:

[Alfchomp]

I have a nice new sparkly warka mastercard. Haven't used it yet but will give it a shot in a few weeks when I return to the states.

[triumphantcorp]

I notice there's no chip on either of them, I don't know about the US but here in UK we have chip and pin devices in stores where you push your card into a slot, it reads the chip and then asks you to enter your pin - at which point your purchase is complete. These cards look like swipe only cards. Are chips not on mastercards in the US? I've added an image to show what I mean :tongueout:

http://www.thetechherald.com/media/images/200810/CreditCard1.jpg


Thank you for that update. May I inquire as to HOW they were sent to you ( ie.: fedex, snail-mail, etc )?

Triumphantcorp

[RoyalBeluga]

Thank you for that update. May I inquire as to HOW they were sent to you ( ie.: fedex, snail-mail, etc )?

Triumphantcorp

Well I was talking about the pictures James posted, they don't seem to have chips on them - which in the UK could appear strange to storekeepers. As far as I know, which isn't saying much :giggle:, most if not all cards these days in the UK have chips on them.

That said you can withdraw up to $1000 a day with the debit cards, depending on how much you have in your account of course :yes: and there's no need for a chip in that case. :happy:

They send by DHL and I think it's about $60 plus $10 for issuing your card.

[latefordinar]

ATM's in Iraq... Does anyone know what denominations of currency are dispensed by the ATM's? Are 1000 500 250 50 IQD notes currently used for ATM debit withdrawals?

Are 25000 10000 5000 IQD notes the ONLY denominations used for ATM withdrawals?

Are ATM's in Iraq configured to dispense only in IQD. (I would think so)

How much cost and technical effort and (time) are required to re-configure the denominations an ATM Network can dispense.

Are the ATM's in Iraq being accepted and used with increasing frequency?

Other foreign countries using ATM machines for debit withdrawals.... Have any banks completely shut down their entire ATM network at the same time? (For maintenance) :thinking:
:mmm::mmm::mmm:bump...................

[Hslvrl9g]

How and where did you get the Application Form?

[iamtherealdreamer]

WHAT A GREAT CARD FOR US TO DO WHAT EVER WE WANT TO DO

I don't think most realize the future value of stocks in this bank and really stocks overall in the ISX. The future looks brighter every day for us. :wink:

[Screaming Eagle]

I don't think most realize the future value of stocks in this bank and really stocks overall in the ISX. The future looks brighter every day for us. :wink: You are correct and I would agree in particular concerning Warka bank. If I were younger I would buy all of this stock possible. I think its a great opportunity. Once they are international one day the growth will slow and the profits will be in the form of dividends.

[James]

How and where did you get the Application Form?

Go back in this thread and look at my post #13

[RoyalBeluga]

You are correct and I would agree in particular concerning Warka bank. If I were younger I would buy all of this stock possible. I think its a great opportunity. Once they are international one day the growth will slow and the profits will be in the form of dividends.

:smile: How far into the future do you see this starting to happen?

[HumbleGenius]

You are correct and I would agree in particular concerning Warka bank. If I were younger I would buy all of this stock possible. I think its a great opportunity. Once they are international one day the growth will slow and the profits will be in the form of dividends.

SE, I like all of your posts except the ones that say "If I were younger". You are making me feel old and like I missed the boat, and I have no idea how old you are.

Please pick which one of the following that fits you best:
1) If I were younger, like in my 80's
2) If I were younger, like in my 70's
3) If I were younger, like in my 60's
4) If I were younger, like in my 50's

Sorry, only options are 1-4 (otherwise I am goring to be really depressed).


HG

[Screaming Eagle]

SE, I like all of your posts except the ones that say "If I were younger". You are making me feel old and like I missed the boat, and I have no idea how old you are.

Please pick which one of the following that fits you best:
1) If I were younger, like in my 80's
2) If I were younger, like in my 70's
3) If I were younger, like in my 60's
4) If I were younger, like in my 50's

Sorry, only options are 1-4 (otherwise I am goring to be really depressed).


HG

No need for multichoice. I will be 69 soon.

[Virenque]

It's not far off!

go online with Warka and sell 10,000 shares, Warka deposits the money in my IQD account, I transfer it over to my USD account online and then simply click on the "load my Mastercard" button and wala,

an hr. later I am headed to the nearest ATM for some cash and to the airport for a flight to an unknown exotic beach, the airfare and trip paid for on my "pre paid" Mastercard of course! :party:

Naturally I will load up the wife's card with the same amount :giggle:I mean, what's the point of prepaid credit cards anyway? It's not even a credit card anymore as nobody but only Mastercard corporation (and, in your case your wife as well) is credited this way. The point of a credit card is that you can spend in advance and pay your debt later in the future. So why would anyone want a prepaid credit card? Rather have money on your bank account, use your usual bank debit card i.e. Maestro, pay with it, withdraw from ITMs and also get interests for the amount that's on your bank account! It's as simple as that folks....prepaid credit cards...wtf?