Iraq’s Qi Showcases National Digital Transformation at Money20/20 Europe 2026

Quick Summary

Iraq's leading fintech, Qi, showcased the nation's digital transformation at Money20/20 Europe 2026. By connecting 22 million users and 160,000 merchants, Qi has built a comprehensive Iraqi digital ecosystem that integrates government services, financial inclusion, and advanced AI-driven compliance to drive long-term national economic development.

How is Qi Driving Iraq's Digital Transformation?

Qi has successfully transitioned from a specialized payment provider into a fully integrated ecosystem that serves as the backbone of Iraq's modern economy. By focusing on national infrastructure development, the company has managed to scale its operations to include:

• Issuance of over 25 million cards to Iraqi citizens.
• A merchant network exceeding 160,000 active locations.
• Integration with government digital services for seamless transactions.

"Our journey was never about building a payments company; it was about building a fully integrated digital ecosystem. In partnership with government institutions, financial partners, merchants, and technology providers, we continue to develop more efficient, higher, impact services that support Iraq’s long, term economic development." added Ali Hussein Munim, CEO of Qi.

What Role Does AI Play in Iraq's Fintech Future?

During the Money20/20 summit, Qi emphasized the strategic deployment of artificial intelligence technologies to modernize the Iraqi financial market. This digital transformation strategy focuses on strengthening regulatory compliance and sharpening fraud detection capabilities to protect its 22 million users. The company is currently exploring embedded finance solutions and cross-border trade ecosystems through global partnerships to further automate operations and tailor digital services to local needs.

How Does Qi Achieve Regional Financial Inclusion?

Qi’s presence on the global stage highlights its role as a financial inclusion engine in the Middle East. By providing digital identity solutions and accessible payment tools, Qi connects the unbanked population to the global digital economy. The platform now facilitates millions of daily transactions, proving that Iraqi financial innovation is ready for international investment and cooperation.

"Our goal is to build a more financially inclusive and digitally connected Iraq. Financial inclusion is not merely a banking service; it is a pillar of economic development and improved quality of life. Through investment in innovation and global partnerships, we continue to build a modern digital economy that serves all Iraqis." affirmed Bahaa Abdul Hadi, Chairman of Qi.

FF NEWS TAKE:

Qi’s massive scale—serving over half the Iraqi population—proves that this digital transformation is a genuine needle-mover for the region. While many Western fintechs focus on incremental UX gains, Qi is building foundational national infrastructure. Their move to the global stage at Money20/20 signals that Iraq is no longer a frontier market but a sophisticated player in embedded finance and digital identity. This is a blueprint for emerging market growth.