Doha, Qatar: The total value of transactions across various payment systems reached QR18.474bn during October this year with a total volume of 59.954 million transactions.
Regarding the share of each payment channel, Qatar Central Bank (QCB) stated in a post on its X platform, yesterday that the point of sale transactions accounted for 50 percent, e-commerce for 24 percent, the ‘Fawran’ instant payment system for 25 percent and mobile payment service accounted for 1 percent.
The point of sale and e-commerce transactions in Qatar witnessed a surge in October this year. The total value of transactions registered in the country through the point of sale (POS) terminals and e-commerce platforms reached QR13.6292bn, according to the latest card payment statistics.
The value of e-commerce transactions amounted to QR4.435bn with a total volume of 10.823 million transactions. Meanwhile the point of sale transactions saw a total value of approximately QR9.194bn with a transaction volume of 46.026 million in October this year.
The point of sale solution provides innovative, secure, and highly efficient payment processing services as it supports contactless card transactions, eWallet, mobile PoS (mPOS), QR code.
Qatar’s fintech and e-commerce sectors are experiencing unprecedented growth as the nation accelerates its transition to a digital economy, in line with the Qatar National Vision 2030. Backed by government initiatives, regulatory reforms, and rising consumer demand, the country is quickly becoming a regional hub for digital finance and online retail.
Qatar’s e-commerce market reached a value of QR7.8bn in last year, showing a 22 percent rise from 2024.
According to Instant Transfer System Statistics for October this year, the instant payment system – Fawran service saw 3.446 million registered accounts with the total value of QR4.556bn and volume of 2.682 million transactions.
The statistics also pointed out that in October this year the Qatar Mobile Payment registered a total of 1.218 million wallets. The total value reached QR289.416m with the volume of around 421,491 transactions.
Fawran is an innovative and advanced service aligned with the Third Financial Sector Strategic Plan.
This service comes as part of QCB’s ongoing efforts to develop the payment systems infrastructure and keep pace with the latest developments in the field of electronic payment systems and money transfer.
QCB’s innovative instant payment service ‘Fawran’ aims to develop a digital payment ecosystem in the country.
