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Rafidain announces the issuance of international electronic payment tools

rocky
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Post by rocky on Wed 11 Oct 2017, 2:40 am

First topic message reminder :

[ltr]Rafidain announces the issuance of international electronic payment tools[/ltr]

 Since 2017-10-11 at 10:05 (Baghdad time)
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[ltr]Baghdad Mawazine News[/ltr]
[ltr]Al-Rafidain Bank announced on Wednesday that it has issued an international payment mechanism for employees, retirees, citizens and other segments of society.[/ltr]
[ltr]"The bank has for the first time instructed its branches to issue electronic payment tools (MasterCard) to employees, retirees, citizens and other segments of society," the bank's media office said in a statement received by Mawazine News.[/ltr]
[ltr]"These tools are used inside and outside Iraq and are acceptable in all ATMs connected to the MasterCard network, as well as points of sale," the office added.[/ltr]
[ltr]He pointed out that "advances and loans granted to employees are through these cards and settle their salaries electronically."[/ltr]





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zimi31
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Post by zimi31 on Wed 11 Oct 2017, 1:19 pm

[You must be registered and logged in to see this link.] wrote:finish the  isis mop up, settle the kurds, get the broom out and roll out some new notes...


I'm starting to get excited again...please Lord let it be...
weslin3
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Post by weslin3 on Wed 11 Oct 2017, 4:46 pm

This is my question... This is a state owned bank. Do they have to have the other state banks on board and then the independent banks ready before the switch? Some one on here the other day was talking about this on an older post. But it says it is the MasterCard network..
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Post by ahill on Wed 11 Oct 2017, 7:17 pm

Great news!
They are making progress.
zimi31
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Post by zimi31 on Wed 11 Oct 2017, 7:41 pm

[You must be registered and logged in to see this link.] wrote:This is my question... This is a state owned bank. Do they have to have the other state banks on board and then the independent banks ready before the switch? Some one on here the other day was talking about this on an older post. But it says it is the MasterCard network..


I can't answer your question with any authority but, 'international' to me means the money would be accepted and have a value, neither of which is the case now soooooooo......we'll see  study
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Post by bajachaser on Wed 11 Oct 2017, 8:42 pm

My question is, why does the master card mean international exchange? It's the card that's international not the dinar. If I spend $xx.00 in Canada on my credit card that's what I "pay back" no matter what the rate difference is in dollars. Would it not be the same if ackmed came to the USA and spent a $1000.00 he would just pay off his card with a million dinar??
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Post by Screwball on Wed 11 Oct 2017, 9:44 pm

[You must be registered and logged in to see this link.] wrote:My question is, why does the master card mean international exchange? It's the card that's international not the dinar. If I spend $xx.00 in Canada on my credit card that's what I "pay back" no matter what the rate difference is in dollars. Would it not be the same if ackmed came to the USA and spent a $1000.00 he would just pay off his card with a million dinar??
From my personal experience I have a card linked to an account in Iraq and I could draw out mine at an ATM, tested worked fine but you would do it at the currency rate
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Post by Screwball on Wed 11 Oct 2017, 9:44 pm

That's wouldn't

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