QI

Qi's Success Story Acquiring Digital Zone

Following the Acquisition of Qi -a pioneer in fintech- on Digital Zone, the local platform for digital products and services as per the agreement made in 2022, being the first-ever for Qi to run out, which concludes a great leap in the ecosystem of entrepreneurship and SMEs in Iraq.

Digital Zone was founded in 2020 by Saif Mufti with a small team to provide easier access to users getting all mobile recharge cards, and internet bundles, with their electronic payment cards. The two following years have witnessed growth to place the company at the top of the industry, offering unmatched service variety, competitive pricing, and ease of use.

By 2022, Qi has completed its integration with Digital Zone keeping the team, structure, and collaborations, then presented through Qi Services and SuperQi apps. The acquisition had a prominent record in the revenue of 50 times, and up to 1 million users monthly during the first year of the acquisition.

Ibrahim Al-Zubaidi, Co-Founder of Qi, stated:

“As fintech pioneers in Iraq, we are committed to supporting startups by creating greater investment opportunities and integrating them into the digital payment ecosystem. Together with entrepreneurs, we aim to build a brighter economic future.”

 “Our excitement about joining Qi stemmed from its alignment with our vision of simplifying Iraq’s digital life. Digital Zone has become a vital platform for Iraqis’ daily purchases, perfectly aligning with Qi’s mission to promote electronic payments across the country. This partnership has enabled us to reach over 1 million monthly users. I’m proud of our role in shaping Iraq’s economic future and creating a shared experience with technology.” Said Saif Al-Mufti, Founder and CEO of Digital Zone.

Then Luay Al-Obaidi, Chief Product Officer at Qi, commented:

“This acquisition represents a strategic transformation for Qi, evolving from a payment services provider to addressing modern lifestyle needs. Digital Zone is now one of our primary channels for delivering exceptional products and services to our users. This success story, our first acquisition proves the importance of collaborating with entrepreneurs to expand our impact across Iraq.”

Which Marwan Ahmed, Product Manager at Digital Zone, added:

“The acquisition opened a new chapter for Digital Zone. With support from Qi, we’ve built a comprehensive range of digital services and formed strategic partnerships with major companies like Asiacell and Earthlink. We’ve also launched new services such as Ticket Zone for sports and entertainment events, which has quickly gained traction, and the Rahal eSIM for travelers, as we continue to expand our offerings in the travel sector.”

About Saif Al-Mufti:

Saif Al-Mufti, Founder and CEO of Digital Zone, is an Iraqi entrepreneur with extensive experience in Iraq’s fintech sector. He founded Digital Zone in 2020 with a team of young Iraqi talents, making it a cornerstone of Iraq’s digital economy today.

About Luay Al-Obaidi:

Luay Al-Obaidi is the Chief Product Officer at Qi, a leader in Iraq’s fintech industry. He oversees the development of SuperQi, one of the largest all-in-one apps in MENA, he handles Qi’s investments in e-commerce, logistics, travel, and healthcare. He, over his 15-year career, has done a pivotal role advancing financial inclusion in Iraq.

Qi, also known for International Smart Card ISC, with more than 15 years of experience in FinTech, we're the leading electronic payment system in Iraq, founded in 2007, and now considered the largest issuer and acquirer that exceeded 10 million cardholders.
As Qi, we have introduced the first biometric card in the region aiming to address the significant challenges faced by state employees, pensioners, and beneficiaries of the social security network, driven by the company’s vision being the product of a partnership between the public and the private sector.

Today, after achieving Qi as a cornerstone, we’re introducing a new generation of services that primarily rely on flexibility for obtaining a digital world by working to expand our products and services towards various life aspects to-be-done seamlessly, whether consumer or business world, providing value-added solutions for the public and private sector, expanding our scope and going beyond being only-payment zone.

For further information, please contact:

info@qi.iq

info@dz.iq