Payments/IQ
Iraq
ISO IQ · 3 schemes
Summary
- Qi Card leading fintech (10M+ cardholders)
- SuperQi super app with Ant International (July 2024)
- Scan to Pay QR feature
- 5% to 50% banking rate improvement
- 20,000+ POS merchants, 10,000 cash-out agents
Banking landscape
Central Bank
- Name: Central Bank of Iraq (CBI)
- Website: https://cbi.iq/
- Role: Monetary policy, payment oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Al-Rafidain Bank | State | Rafidain App |
| 2 | Rasheed Bank | State | Rasheed Mobile |
| 3 | Trade Bank of Iraq | State | TBI App |
| 4 | International Smart Card (Qi) | Private | SuperQi |
| 5 | Bank of Baghdad | Private | BOB Mobile |
Market Structure
- Qi Card: Dominant fintech
- Al-Rafidain: Partner bank (state)
- 12+ million: Electronic cards issued
- Public-private: Qi Card structure
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Qi Card | ISC | Card/Digital | Dominant |
| SuperQi | Qi + Ant | Super app | Active (2024) |
| Iraqi Post | Gov/Qi | Card issuance | Active (2024) |
Qi Card Statistics
- 10+ million cardholders
- 5+ million mobile app users
- 12+ million cards issued nationally
- 2007 founded (first in Iraq)
SuperQi Launch (July 2024)
- Ant International partnership
- Third-generation app
- Digital bank features
- Super app model
QR code standards
SuperQi "Scan to Pay"
| Attribute | Value |
|---|---|
| Operator | Qi Card + Ant International |
| Launch | July 2024 |
| Technology | Alipay+ Wallet Tech |
| Feature | QR scan transactions |
SuperQi QR Features
- Scan to Pay functionality
- Swift QR transactions
- Phone-based payments
- First super-app in Iraq
SuperQi Services
- Money transfers
- Scan to pay (QR)
- Bill payments
- E-commerce
- Mobile recharge
Network Scale
- 20,000+ POS merchants
- 10,000 cash-out agents
- 30%+ population target by 2026
- 15 million app user goal (3 years)
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| SuperQi | Qi Card | Yes | Super app |
| Qi Card App | Qi | Yes | Card management |
| Bank Apps | Various | Limited | Banking |
SuperQi App
- First super-app in Iraq
- Digital bank integration
- Scan to Pay QR
- Cashless transactions
- Alipay+ technology
Expansion Plans
- 15 million app users goal
- 3-year target
- Population coverage increase
- Digital banking push
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| SuperQi | Super app | Alipay+ | 5M+ users | superqi |
| Qi Card | Card | ISC | 10M+ holders | — |
| Scan to Pay | QR | SuperQi | Active | scan-to-pay |
Sources
- Wikipedia - Qi Card
- FFNews - SuperQi Launch
- Google Play - SuperQi
- Osous Tech - Mobile Payments Iraq
- EPI - SuperQi Launch
- Qi Card - Iraqi Post Agreement
- Zawya - SuperQi Announcement
- International Finance - Qi Card Odyssey
- Qi Card Official
- AppAdvice - SuperQi
Full country report
Schemes
Standards
Primary · 1