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Central Bank of Iraq and Visa Partner To Drive Digital Payment Adoption Among Consumers

A joint effort between the central bank and the global leader in payments to accelerate consumer adoption of digital payments, in line with the country’s 2030 vision to create a cashless economy.

Baghdad, Iraq, 04 July 2021 – Global digital payments leader Visa is collaborating with the Central Bank of Iraq on joint initiatives to drive awareness and adoption of digital payments among consumers in Baghdad. This is a key effort to help bring Iraqi residents to access the global digital payments economy and help address common concerns and misperceptions among consumers about digital payments and explain the benefits versus cash.

Under the tagline “What are you waiting for?” Visa and the CBI’s marketing campaign are aimed at encouraging people to use digital payments. The campaign highlighted the tangible benefits of digital payments over cash including safety and security, convenience, better tracking of spending, and worldwide acceptance at over 70 million merchant locations when travelling abroad or on international eCommerce sites.

A local comedy group supported the campaign with amusing sketches about the added benefits of using a Visa card that helped capture people’s attention.

Central Bank of Iraq and Visa partner

Duha Abdel Karim Mohamed – General Director of Payment Department, Central Bank of Iraq, said: “The benefits of digital payments are many, particularly its pivotal role in laying the foundation for new experiences and business models that are integral to achieving Iraq’s vision for the next stage for a diversified digital economy and increased global competitiveness. We are pleased to work with Visa as efforts resulting from public-private partnerships like this help accelerate the Government of Iraq’s priority of promoting inclusive, sustainable, and equitable economic growth for the country’s entrepreneurs, businesses, and communities.”

Mario Makary, Visa’s Country Manager for Iraq and Lebanon, said, “At Visa, our mission is to enable individuals, businesses, and economies to thrive and supporting small businesses as they keep pace and adapt to operate in a world that is rapidly evolving is, therefore, one of our top priorities. As more Iraqis increasingly turn to digital commerce, we must support all related communities with resources to support their digital transformation. We are pleased to partner with the Central Bank of Iraq on this important initiative to drive adoption of digital payments in the country.”

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