Qatar Central Bank (QCB) has launched an interoperable national mobile payments system that enables Qatari residents and visitors to register and create digital wallets, complete instant money transfers and make in-store QR code payments with their mobile device.
The Qatar Mobile Payment (QMP) system connects all licensed mobile payment service providers in the country and “provides a new and secure means for instant payment to allow payment services and instant money transfers via smartphone around the clock through digital wallets which are registered on the QMP system”, QCB explains.
QCB has introduced the system in order to expand payment method options in the country, promote financial inclusion “by providing services to all segments of society”, facilitate electronic payments for merchants through standard QR codes and reduce dependence on cash, the central bank says.
It is rolling out the service with support from QNB, QIB, Doha Bank, Dukhan Bank, QIIB, Arab Bank, HSBC, Masraf Al Rayan, Ahlibank, Commercial Bank of Qatar, Ooredoo and iPay.
Residents of Qatar can create and register multiple digital wallets via banks and other authorised payment services providers on the system, while visitors can register a single wallet on proof of identity with their passport and entry visa.
Qatar Central Bank rolls out interoperable national mobile payments system was written by Tom Phillips and published by NFCW.