HSBC Partners with Qatari FinTech Noqoody to Launch Corporate Merchant Payment Service
HSBC has announced the launch of a new merchant payment acceptance service for its corporate clients through a partnership with Noqoody, a leading FinTech and payment service provider in Qatar. This strategic move aims to streamline payment collections and accelerate the digital transformation of businesses.
The partnership agreement was officially signed on July 1, 2026, at HSBC’s headquarters in Qatar. The ceremony was attended by Abdul Hakeem Mostafawi, CEO of HSBC Bank Middle East Limited in Qatar, and Nayef Rashwan, CEO of Noqoody, alongside several senior officials from both parties.
Under the agreement, the bank’s corporate clients will be able to accept card payments by leveraging Noqoody’s advanced collection infrastructure. Clients will benefit from a highly efficient payment collection experience, clearer visibility over receivables across various channels, consolidated reporting, and simplified, rapid financial settlement processes.
This collaboration significantly expands the payment collection options available to HSBC clients. It also supports companies operating in Qatar in their digital transformation journeys by minimizing reliance on cash and checks while promoting the adoption of electronic payment methods.
Seamless Integration with Zero Extra Investment
The bank clarified that the new solution is engineered to integrate seamlessly with clients' existing business channels and operational systems. Crucially, it does not require any significant additional investments in software, infrastructure, or new operational processes.
Executive Insights
Abdul Hakeem Mostafawi, CEO of HSBC Bank Middle East Limited in Qatar, stated: "Qatar's digital economy continues to offer substantial opportunities for businesses to modernize their operations. By combining HSBC's global expertise with Noqoody's local FinTech capabilities, we are helping companies achieve higher levels of efficiency by simplifying collections, enhancing reporting capabilities, and improving receivables management."
Nayef Rashwan, CEO of Noqoody, commented: "We are delighted to collaborate with the HSBC team in Qatar, as they represent one of the world's most prominent financial institutions. We are excited about the integration opportunities this partnership brings and are ready to deploy our market-leading capabilities to support the bank's clients."
Nick Young, Head of Global Payment Solutions at HSBC Qatar, added: "This partnership reflects our commitment to helping businesses embrace digital transformation through innovative solutions that simplify financial operations and boost operational efficiency. Together with Noqoody, we empower organizations with clearer visibility, greater control, and expanded flexibility in managing their collections and receivables."
HSBC's Broad Regional Footprint
The bank emphasized that this partnership underscores HSBC's steadfast commitment to supporting businesses in Qatar with innovative financial and digital solutions. These tools are designed to foster growth, elevate operational efficiency, and accelerate digital transformation in a manner that supports national economic goals.
HSBC is the largest international banking institution by footprint in the Middle East, North Africa, and Turkey (MENAT) region, operating across nine countries: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates. In Saudi Arabia, the bank holds a 31% stake in Saudi Awwal Bank (SAB) and a 51% stake in HSBC Saudi Arabia, which specializes in investment banking. The total assets of the HSBC Group in the MENAT region reached $83 billion as of December 31, 2025.
Keywords: HSBC Qatar | Noqoody | Merchant Payment Services | FinTech | Digital Transformation | Corporate Banking | Payment Solutions | MENAT Region