Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Qatar’s digital payments ecosystem processed QR16.1bn in July, driven by QR12.6bn in card transactions and QR3.3bn through Fawran instant transfers. POS spending dominated, while e-commerce continued strong growth. QMP, though still small, showed rising adoption. The data highlights Qatar’s progress toward a cash-light, inclusive financial system.
Qatar Central Bank has introduced the ‘Multiple Wallets per Mobile Number’ feature in the Qatar Mobile Payment system, enabling users to manage two wallets with different service providers. This feature enhances user experience, fosters competition, and supports financial inclusion, reinforcing QCB’s commitment to advancing mobile payments in the country.
Qatar Central Bank has introduced the ‘Multiple Wallets per Mobile Number’ feature in the Qatar Mobile Payment system, allowing users to open two wallets under different payment service providers. This initiative enhances user experience, supports competition and innovation, and promotes financial inclusion in line with the Third Financial Sector Strategy.
Qatar Central Bank has launched a regulatory framework for digital banks to enhance the country’s financial sector. This move supports Qatar’s digital economy and financial inclusion, allowing 24/7 banking through mobile and online platforms. The framework aims to reduce costs and foster innovation in line with Qatar National Vision 2030.