Baghdad, Iraq – December 26, 2024 – Qi, a leader in Iraq’s fintech sector, has officially launched its third-generation app, SuperQi, in collaboration with Ant International. Powered by Alipay+ Wallet Tech solutions, SuperQi integrates a digital lifestyle super app with a fully functional digital bank, heralding a new era of financial inclusion and digital services in Iraq.
Blending Global Expertise
Launched in July 2024, SuperQi combines Western digital banking models with best practices from Asia’s leading super apps. The app offers an extensive suite of services, including scan-to-pay, money transfers, bill payments, loans, instalments, mobile recharge, shopping, travel, and other payment solutions, catering to the diverse needs of Iraq’s population.
Available in Arabic, English, and Kurdish, SuperQi aims to reach millions of Iraqis, serving as a cornerstone of the country’s expanding financial infrastructure with over 20,000 point-of-sale merchants and 10,000 cash-out agents.
Vision for a Cashless Iraq
Bahaa Abdulhussein, Chairman of Qi, emphasized the company’s commitment to financial inclusion, stating, “At Qi, our vision is to build a cashless Iraq by bringing financial services to every corner of our society. SuperQi is a testament to this commitment, simplifying financial transactions and fostering greater inclusivity for all Iraqis.”
Highlighting the collaboration with Ant International, Abdulhussein added, “Our partnership is not just about advancing digital finance; it represents a transformative leap towards creating a broader digital ecosystem that addresses the needs of the unbanked population.”
Accelerating Financial Inclusion
Qi has played a pivotal role in improving financial inclusion in Iraq, with the rate of banked individuals rising from a mere 5% to nearly 50% in recent years. Through SuperQi, Qi aims to further accelerate this progress, targeting over 30% of Iraq’s population by 2026. The app’s accessible design seeks to meet the evolving financial and lifestyle needs of users while paving the way for a cashless society.
Empowering Individuals and Businesses
With over 11 million cardholders and five million mobile app users, Qi plans to grow its SuperQi user base to 15 million within the next three years. The app’s impact extends beyond individual users, offering secure and flexible payment solutions that empower businesses to connect with customers innovatively.
Ali Muneam, CEO of Qi, remarked, “The launch of SuperQi is a milestone in Iraq’s journey towards a cashless society. By bridging the gap for millions who still rely on cash transactions, SuperQi is not just a financial solution but a key step in modernizing our nation’s economy.”
Luay Al Obaidi, Chief Product Officer of SuperQi, emphasized the app’s broad appeal: “SuperQi represents a paradigm shift in how we address the lifestyle and daily needs of our diverse customer base. We invite businesses across Iraq to leverage SuperQi as a platform to deliver their services seamlessly and effectively.”
Redefining Iraq’s Digital Future
SuperQi’s integrated features position it as a central platform for Iraq’s digital future, bridging the gap between traditional banking and innovative digital solutions.
Qi’s collaboration with Ant International has enabled the creation of a powerful financial ecosystem, unlocking new economic opportunities in Iraq’s growing digital landscape. Recognized as the “Best Credit Solutions Provider” in Iraq, Qi continues to lead innovation and sustainability in fintech.
Commitment to Innovation
From its inception in 2007 to the launch of SuperQi, Qi has been a pioneer in fintech, consistently pushing boundaries to modernize financial management. The introduction of SuperQi signifies a monumental shift in the company’s vision, delivering a seamless, all-encompassing lifestyle app for Iraq’s increasingly tech-savvy population.
“With SuperQi, we empower millions of Iraqis with accessible, efficient, and secure solutions, paving the way for a more interconnected, inclusive, and technologically advanced nation,” Abdulhussein concluded.
SuperQi’s launch is a transformative step in Iraq’s journey toward a digital-forward future, further solidifying Qi’s leadership in the fintech sector.
