(MENAFN- The Peninsula) Sanaullah Ataullah |The Peninsula
Doha, Qatar: Commercial outlets not providing electronic payment services to consumers can face temporary closure, said a top official.
The Ministry of Commerce and Industry (MoCI) has mandated all commercial outlets to provide electronic payment option to customers without any additional charge for the service.
“The electronic payment services aim to facilitate consumers without taking any extra charges from them,” said Head of the Inspection Section at the Commercial Registration and Licensing Department of MoCI, Saif Al Athba.
Speaking to Qatar TV, he said the punishment for not providing electronic payment service is to close down the commercial outlets for 14 days or until they remove the violation or administrative closure is renewed.
Following a concept of 'less cash more safety', it has been made mandatory for all commercial outlets to provide one of three types of electronic payment services - bank card, bank payment wallet or QR code to customers.
It is following the decision No. 70 of 2022 by the Minister of Commerce and Industry for amending some provisions of the decision No. 161 of 2017 regarding general and special conditions that are required from commercial, industrial and general outlets as well as those coming under its purview.
Dealing in cash requires lengthy processes such as withdrawing from bank and carrying cash to the banks among others. The electronic payments also help reduce the risk of counterfeit money and cash burglary.
MoCI had already issued a circular to all commercial outlets that are offering payment services through bank cards, asking them not to impose any additional charges for use of cards.
There are various types and modes of digital payments. Some of these include the use of debit/credit cards, internet banking, mobile wallets, digital payment apps, unified payments interface, unstructured supplementary service data (USSD), bank prepaid cards, and mobile banking, among others.
The authorities concerned have intensified efforts to provide a complete infrastructure for electronic payment system in the country.
Qatar Central Bank (QCB) develops the infrastructure for payment and settlement systems to provide an advanced payment and financial transfer system that keeps pace with the developments of this sector.
Last month QCB officially launched its instant payment service 'FAWRAN', which is one of the innovative and advanced services, in line with the third strategy for the financial sector, and in continuation of QCB's efforts to develop the infrastructure of payment systems and keep pace with the latest developments in the field of payment systems and electronic transfer of funds.
'FAWRAN' reflects QCB's keenness to provide best services to customers of banks and financial institutions in the country, and meet their growing needs in line with the increasing demand for financial technology services.
FAWRAN also facilitates financial and commercial transactions between the bank accounts of individuals and companies, keeping pace with the rapid development witnessed by the national economy.
QCB has also launched Himyan Debit Card (Himyan) in line with the Third Financial Sector Strategy, and in the framework of developing the country's digital payments infrastructure. The launch marks a qualitative addition to e-payment solutions available in Qatar and enriches offerings for local bank customers, while contributing to the promotion of financial inclusion in the country, and bringing progress toward its transition to a cashless society.
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