# ZainCash Iraq

> Source: https://docs.barcoder.ai/docs/wallets/zaincash-iraq
> research date 2026-10-22 · extracted at 2026-10-22
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [ZainCash Terms and Conditions (Wayback copy)](https://web.archive.org/web/20250716002311/https://zaincash.iq/terms-and-conditions)
- [ZainCash Iraq — Apple App Store lookup](https://itunes.apple.com/lookup?id=1176557130&country=iq)

## Overview

**ZainCash** (زين كاش) is an Iraqi mobile wallet run by Iraq Wallet for Financial Payment via Mobile Phone and Internet LLC, a company licensed by the Central Bank of Iraq [[1]](https://web.archive.org/web/20250716002311/https://zaincash.iq/terms-and-conditions). You open a wallet without a bank account or minimum balance, cash in and out at agents, send money, pay shops by QR code, top up Zain Iraq lines, and shop online with a prepaid Mastercard [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq) [[3]](https://web.archive.org/web/20240414073841/https://zaincash.iq/ar/features/pay-with-qr.html). It had more than 5 million Google Play installs when read on 22 October 2026 [[4]](https://play.google.com/store/apps/details?id=mobi.foo.zaincash&hl=en&gl=iq), and its chief executive said in June 2026 that it handled about 95% of Iraq's mobile payments, citing central bank data [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).

## History

- **2015–2016: start.** Temenos and Forbes Middle East give 2015 as the year ZainCash was established [[6]](https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/) [[7]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50-2025/zaincash-iraq/). ZainCash's own About page says it "was licensed in 2016 under the Central Bank of Iraq to offer electronic financial services" [[8]](https://web.archive.org/web/20240228213331/https://zaincash.iq/about). AGBI wrote in June 2026 that it launched "a decade ago", when the central bank began licensing several mobile wallets to widen financial inclusion [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- **2019–2021: awards.** ZainCash says it won a "Telecom Lead Innovation" award in 2019 and was nominated by the GSMA for "The Best Mobile Innovation supporting Emergency" in 2020/21 [[8]](https://web.archive.org/web/20240228213331/https://zaincash.iq/about).
- **May 2024: new core system.** ZainCash went live on Temenos's core banking and payments platform; it then had more than 1.2 million app downloads and aimed for 3 million users by the end of 2024 [[6]](https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/).
- **3 September 2025: wallets talk to each other.** The Central Bank of Iraq launched transfers between verified permanent wallets of different providers, and from them to merchants' wallets [[9]](https://cbi.iq/news/view/2972).
- **2026: towards a bank.** In June 2026 ZainCash said it was preparing "nano" instant loans from September, working with banks on an instalment plan similar to buy-now-pay-later, and was in the last stages of becoming a licensed digital bank [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).

## Ownership & operator

**The company.** The legal entity is Iraq Wallet for Financial Payment via Mobile Phone and Internet LLC, set up under Iraqi companies law and licensed by the Central Bank of Iraq [[1]](https://web.archive.org/web/20250716002311/https://zaincash.iq/terms-and-conditions). Its App Store seller name is "Iraq Wallet" [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq), and its Google Play developer is "Zain Cash" [[4]](https://play.google.com/store/apps/details?id=mobi.foo.zaincash&hl=en&gl=iq). Its address is in Al-Dawoodi, Baghdad [[3]](https://web.archive.org/web/20240414073841/https://zaincash.iq/ar/features/pay-with-qr.html).

**Who owns it: the sources disagree.**
- Forbes Middle East (March 2024) says ZainCash is "owned by the U.A.E.-based company March Holding" and trades as ZainCash Iraq "through a partnership with Zain Group" [[10]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50/iraq-wallet-for-payment-zaincash-iraq/). Its March 2025 list also says March Holding owns it [[7]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50-2025/zaincash-iraq/), and Temenos called it "a subsidiary of March Holding" in May 2024 [[6]](https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/).
- AGBI (June 2026) calls it "an independent company majority-owned by Kuwaiti telecom Zain Group" [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- Zain Group's 2025 Sustainability Report says "Zain Cash Iraq delivered growth in electronic payments", but gives no shareholding [[11]](https://zain.com/SR2025/wp-content/uploads/2026/04/04-Message-from-the-Vice-Chairman-and-Group-CEO.pdf).

The mobile network Zain Iraq is a separate company: its app is published by Al Khatem Telecom Company [[12]](https://itunes.apple.com/lookup?id=878028175&country=iq).

## Technical integration

**Wallet tiers.** ZainCash's site described two wallets in February 2024 [[13]](https://web.archive.org/web/20240228213918/https://zaincash.iq/accounts/zaincash-basic-wallet) [[14]](https://web.archive.org/web/20240228212907/https://zaincash.iq/accounts/zaincash-permanent-wallet):

| Wallet | How you open it | Transaction limit | Wallet capacity |
|---|---|---|---|
| Basic | In the app, filling in your own details | IQD 1,000,000 a month | IQD 1,000,000 |
| Permanent | At an agent with a national ID and residence card (foreigners: passport and permanent residence) | IQD 2,000,000 a day, IQD 10,000,000 a month | IQD 10,000,000 |

Only verified permanent wallets take part in the central bank's transfers between providers [[9]](https://cbi.iq/news/view/2972).

**QR payments.** To pay a shop, tap "Pay", choose "Pay by QR code", point the camera at the merchant's code, type the amount and confirm. ZainCash says it is available to every customer and refunds are possible [[3]](https://web.archive.org/web/20240414073841/https://zaincash.iq/ar/features/pay-with-qr.html). The code is a plain [QR Code](https://docs.barcoder.ai/docs/standards/qr-code) read in the ZainCash app; ZainCash does not publish its payload format, and we found no source saying another provider's app can scan it.

**Cards.** Both wallet tiers can link a "WalletCard", a prepaid Mastercard in dinars and dollars for online shopping and cash at ATMs worldwide [[13]](https://web.archive.org/web/20240228213918/https://zaincash.iq/accounts/zaincash-basic-wallet). The app also sells an electronic Mastercard that you receive at once [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq).

**Fees.** The terms let ZainCash and its agents charge a commission on each transaction, deducted from the wallet within the central bank's rules [[1]](https://web.archive.org/web/20250716002311/https://zaincash.iq/terms-and-conditions). We couldn't read the current price list. The chief executive said 1% is "on the high end" for fees in Iraq [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).

## Users & growth

| Period | Figure | Source |
|---|---|---|
| May 2024 | More than 1.2 million app downloads; 10,000 agents; target 3 million users by end-2024 | [[6]](https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/) |
| 2024 | More than 35 million transactions; over a million users | [[7]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50-2025/zaincash-iraq/) |
| Jun 2026 | About 95% of Iraq's mobile payments, the CEO citing central bank data | [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/) |
| Read 22 Oct 2026 | Google Play: 5M+ installs, rated 4.2 from about 23,900 reviews | [[4]](https://play.google.com/store/apps/details?id=mobi.foo.zaincash&hl=en&gl=iq) |
| Read 22 Oct 2026 | App Store (Iraq): rated 4.5 from 8,714 ratings | [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq) |

We found no central bank publication of the 95% figure.

## Use cases

- **Send and receive money** to anyone in Iraq, with a note on each transfer, and cash out at agents [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq) [[14]](https://web.archive.org/web/20240228212907/https://zaincash.iq/accounts/zaincash-permanent-wallet).
- **Pay shops** by scanning their QR code [[3]](https://web.archive.org/web/20240414073841/https://zaincash.iq/ar/features/pay-with-qr.html), and pay online merchants [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- **Top up and pay bills:** Zain Iraq prepaid credit and postpaid bills [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq), government services [[6]](https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/), and electricity bills across Iraq and the Kurdistan region, which the CEO said launched in the months before June 2026 [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- **Money from abroad:** overseas transfers through Western Union [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- **Aid payouts:** ZainCash has paid out about US$381.7 million in cash for UN entities, Forbes Middle East reported in March 2024 [[10]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50/iraq-wallet-for-payment-zaincash-iraq/).
- **Travel and digital goods:** flight and hotel booking, and gift cards for games and app stores [[14]](https://web.archive.org/web/20240228212907/https://zaincash.iq/accounts/zaincash-permanent-wallet).

## Implementations & partners

- **Agents:** 10,000 cash-in and cash-out agents across Iraq [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- **Card network:** Mastercard, for the prepaid WalletCard [[13]](https://web.archive.org/web/20240228213918/https://zaincash.iq/accounts/zaincash-basic-wallet).
- **Remittances:** Western Union [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/).
- **Technology:** Temenos core banking and payments, integrated with the Central Bank of Iraq [[6]](https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/).
- **Telecom:** Zain Iraq, whose lines it tops up and whose brand it uses [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq) [[10]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50/iraq-wallet-for-payment-zaincash-iraq/).

## Fun facts

- Forbes Middle East ranked ZainCash 6th in its Middle East Fintech 50 published in March 2024 [[10]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50/iraq-wallet-for-payment-zaincash-iraq/) and 11th in the 2025 list [[7]](https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50-2025/zaincash-iraq/).
- The same brand exists in Jordan: "Zain Cash Jordan" is a separate app, published by Jordan Mobile Telephone Services [[15]](https://itunes.apple.com/lookup?id=1472544421&country=iq).

## Comparison

| | ZainCash | [Qi Card](https://docs.barcoder.ai/docs/wallets/qi-card-iraq) (SuperQi) | [Rasheed Bank](https://docs.barcoder.ai/docs/wallets/rashid-bank-iraq) app |
|---|---|---|---|
| Needs a bank account | No [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq) | See the Qi Card bio | Yes, a Rasheed account |
| Opens in the app | Basic wallet, yes [[13]](https://web.archive.org/web/20240228213918/https://zaincash.iq/accounts/zaincash-basic-wallet) | See the Qi Card bio | Registers an existing Rasheed account |
| Pays a shop QR | Yes, ZainCash codes [[3]](https://web.archive.org/web/20240414073841/https://zaincash.iq/ar/features/pay-with-qr.html) | Yes, Scan to Pay in SuperQi | Not documented |
| Cash without an ATM | 10,000 agents [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/) | Qi cash-out agents | Branches |

The criterion is the salary: state employees are paid onto a bank card (Qi with Rafidain, Nakheel with Rasheed), while ZainCash serves people who want a wallet without a bank.

## Status

**Active.** The App Store showed an update on 13 September 2026 [[2]](https://itunes.apple.com/lookup?id=1176557130&country=iq), and Google Play on 7 September 2026 [[4]](https://play.google.com/store/apps/details?id=mobi.foo.zaincash&hl=en&gl=iq). In June 2026 ZainCash said it was in the last stages of a digital bank licence, which would let it lend larger sums, offer savings accounts and reach the SWIFT network [[5]](https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/). We found no announcement that the licence was granted as of 22 October 2026.

## Sources

[1]: https://web.archive.org/web/20250716002311/https://zaincash.iq/terms-and-conditions "Terms and Conditions — ZainCash, Wayback copy of 16 Jul 2025 (live site blocks plain fetches), read 22 Oct 2026"
[2]: https://itunes.apple.com/lookup?id=1176557130&country=iq "ZainCash Iraq - زين كاش عراق — Apple App Store lookup, read 22 Oct 2026"
[3]: https://web.archive.org/web/20240414073841/https://zaincash.iq/ar/features/pay-with-qr.html "الدفع عن طريق رمز الـQR (Pay by QR code) — ZainCash, Wayback copy of 14 Apr 2024, read 22 Oct 2026"
[4]: https://play.google.com/store/apps/details?id=mobi.foo.zaincash&hl=en&gl=iq "ZainCash Iraq - زين كاش عراق — Google Play, read 22 Oct 2026"
[5]: https://www.agbi.com/banking-finance/2026/06/zaincash-ceo-iraq-is-5-years-behind-in-digital-payments/ "ZainCash CEO: Iraq is 5 years behind in digital payments — AGBI, 29 Jun 2026 (read in a browser)"
[6]: https://www.temenos.com/press_release/iraqi-fintech-zaincash-goes-live-with-temenos-core-banking-and-payments-to-scale-digital-payment-services/ "Iraqi Fintech ZainCash goes live with Temenos core banking and payments to scale digital payment services — Temenos, 23 May 2024"
[7]: https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50-2025/zaincash-iraq/ "The Middle East's Fintech 50 2025: ZainCash Iraq — Forbes Middle East, 14 Mar 2025"
[8]: https://web.archive.org/web/20240228213331/https://zaincash.iq/about "About Us — ZainCash, Wayback copy of 28 Feb 2024, read 22 Oct 2026"
[9]: https://cbi.iq/news/view/2972 "البنك المركزي يُطلق خدمات جديدة عبر المَحافظ الإلكترونية (new services through electronic wallets) — Central Bank of Iraq, 3 Sep 2025"
[10]: https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50/iraq-wallet-for-payment-zaincash-iraq/ "The Middle East's Fintech 50: Iraq Wallet For Payment (ZainCash Iraq) — Forbes Middle East, 27 Mar 2024"
[11]: https://zain.com/SR2025/wp-content/uploads/2026/04/04-Message-from-the-Vice-Chairman-and-Group-CEO.pdf "Sustainability Report 2025, Message from the Vice-Chairman and Group CEO — Zain Group, 7 Apr 2026"
[12]: https://itunes.apple.com/lookup?id=878028175&country=iq "Zain Iraq — Apple App Store lookup, read 22 Oct 2026"
[13]: https://web.archive.org/web/20240228213918/https://zaincash.iq/accounts/zaincash-basic-wallet "ZainCash Basic Wallet — ZainCash, Wayback copy of 28 Feb 2024, read 22 Oct 2026"
[14]: https://web.archive.org/web/20240228212907/https://zaincash.iq/accounts/zaincash-permanent-wallet "ZainCash Permanent Wallet — ZainCash, Wayback copy of 28 Feb 2024, read 22 Oct 2026"
[15]: https://itunes.apple.com/lookup?id=1472544421&country=iq "Zain Cash Jordan — Apple App Store lookup, read 22 Oct 2026"

## Source

Biography extracted from [zaincash-iraq.md](https://docs.barcoder.ai/source/wallets/zaincash-iraq). See `matrix.md` for standards-support matrix if present.