KeyBS signs franchise agreement with KBS Qatar

KeyBS, a technology provider for financial institutions and member of Arabi Holding Group KSC, has entered into a franchise agreement with KBS Qatar. As part of this contract KBS Qatar will be the exclusive franchisee for KeyKIOSK and KeyPOS in Qatar, and will install 100 KeyKIOSK and 500 POS within the first year.

Making the announcement, Ibrahim Darraz, KeyBS managing director, comments, “This agreement is in keeping with our expansion strategy in the GCC. Qatar is a very significant market for us and we are delighted to partner with KBS Qatar that is well placed to drive our growth in this key market. Qatar, like the rest of the GCC, is witnessing strong demand from consumers for automated and digital payment solutions. This has necessitated banks, exchange houses and other financial institutes to swiftly respond to this growing demand, thus creating unprecedented opportunities for a company like ours. Industry research shows that over the next five years more than two-thirds of customers are like to be self-directed.”

KeyBS has already installed 25 kiosk machines in Qatar, and it expects to reach 75 machines in the country by April, 2015. Continuing its expansion, KeyBS recently hit a new milestone reaching 565 locations all over GCC covering the UAE, Qatar, Bahrain and KSA. Across its network, the company offers more than 15 services in 10 different languages. Comparing KeyBS’ 2014 results with 2013, its turnover increased by 800%, while the number of its transactions rose by 1250%. The company is looking to reach around 880 locations in the emirates and GCC by first half of 2015.