Ottu and Commercial Bank announce strategic partnership to revolutionize Online Payments in Qatar

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In a leap towards advancing the landscape of online payment experiences in Qatar, Ottu proudly announces its strategic partnership with Commercial Bank, a front runner in cutting-edge financial solutions, to enhance and redefine the landscape of online payments.

Ottu's OPMS streamlines and optimizes online payment processes across various industries by seamlessly connecting online sales channels and integrating a myriad of payment methods. The partnering with Commercial Bank empowers Ottu to upgrade online payment offerings for various industries. This collaboration underscores Ottu's commitment to innovation and its dedication to facilitating a frictionless online payments ecosystem in the Middle East.

It also signifies a powerful alliance between two industry leaders, dedicated to providing a secure, seamless, and innovative financial solution. Ottu anticipates ushering in a new era of online payment efficiency and reliability for businesses in Qatar.

Talal AlAwadhi, CEO of Ottu, emphasized, "This strategic alliance underscores Ottu's commitment to transforming Qatar's digital banking landscape. By integrating our cutting-edge solutions, we aim to introduce a new era of modernity, security, and seamlessness in the realm of Online Payments within our sector."
Dr. Sudheer Nair, AGM, Head of Cards and Payments at Commercial Bank said: “With the signing of this Memorandum of Understanding with Ottu, we look forward to building a strong partnership that will lead to mutual growth and success for both organizations. This collaboration represents our shared commitment to empower merchants and allow businesses to integrate digital payments without having to build their own payment infrastructure.”

About Commercial Bank:

Incorporated in 1974 as the first private bank in the country, Commercial Bank is today one of the leading financial institutions in Qatar with a profitable track record since inception. We continue to play an important role in driving innovation and raising service standards in banking across the region through our investment in new technology, a clear focus on customers and prudent management. Our country-wide network includes 33 branches, 202 ATMs, 13 instant cheque book printing machines, 15 instant card printing machines, and we also own and operate exclusive ‘Diners Club’ franchise in Qatar and Turkey. The Bank is listed on the Qatar Exchange and was the first Qatari bank to list its Global Depository Receipts on the London Stock Exchange. Commercial Bank’s bonds issuance is listed on the Irish Stock Exchange and the Swiss Exchange (SIX). 

Our continual investment in technology and people, together with our strong capital base, provides a solid foundation for further growth. Commercial Bank has a robust financial position, with total assets of QAR 160.8 billion as at 30 June 2023 and a capital adequacy ratio of 16.1%. The Bank enjoys strong credit ratings of A2 from Moody’s, A- from Fitch, and A- from Standard & Poor’s. True to our pioneering origins and history of success, we are dedicated to supporting Qatar’s economic development and social infrastructure through Corporate Social Responsibility programmes and sponsorship of various events, which help to raise Qatar’s profile internationally.

About Ottu:

Ottu is an Online Payment Management Solution (OPMS), dedicated to streamlining online payments for enterprises. With a focus on innovation, Ottu seamlessly connects multiple online sales channels and payment methods into a single-stop dashboard, fostering a robust digital ecosystem for business success in orchestrating online payments.

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