Qi Card
“Can Iraq's dominant government-payroll card network transform itself into the country's all-in-one digital financial super-app before new fintech entrants capture the consumer and merchant opportunity?”
Founded in 2007 as a government-mandated electronic payments platform for Iraqi civil servants and pensioners, Qi Card (International Smart Card ISC) grew into Iraq's largest card issuer and acquirer with over 10 million cardholders. The company initially focused on financial inclusion for the unbanked majority, disbursing government salaries via prepaid and debit cards on Mastercard and Visa rails. Beginning around 2024, Qi Card pivoted toward a super-app model — SuperQi — powered by Ant International's Alipay+ Wallet Tech, layering consumer lending, instalment plans, digital marketplace services, and merchant acquiring onto its existing card infrastructure, signalling an ambition to become Iraq's dominant digital financial platform rather than just a government payroll processor.