(MENAFN- The Peninsula) Deepak John |The Peninsula
DOHA: The Point of Sale (PoS) transactions in Qatar have risen in April of this year. POS transactions were valued at QR7.56bn in April 2024 compared to QR7.24bn in April 2023 and QR5.79bn in April 2022 showing a surge of 4.5 percent and 31 percent respectively, Qatar Central Bank (QCB) data revealed yesterday.
The volume of PoS transactions stood at 32.19 million in April this year, while it was 28.03 million in April last year and 19.62 million in April 2022, an increase of 15 percent and 64 percent respectively.
The number of PoS devices in Qatar totalled 71,568 in April this year compared with 65,010 in April 2023 and 23,850 in April 2022, QCB data further noted.
PoS solution provides innovative, secure, and highly efficient payment processing services as it supports contactless card transactions, eWallet, mobile PoS (mPOS), QR code scanner, and online billing and settlement.
Recently, QCB launched the innovative instant payment service Fawran which aims to develop a digital payment ecosystem in the country.
The service significantly benefits customers across the country and enables the beneficiaries to receive funds within seconds. It operates 24/7 and can be used through mobile banking applications and digital channels.
Revealing the details of the total count of active cards in Qatar in April this year, the data showed the number of active debit cards totalled 2,293,796.
While, the credit cards and prepaid cards totalled, 691,658 and 703,571 respectively in April 2024.
The volume of e-commerce transactions reached 6.92 million in April 2024 with a value of QR3.42bn showing a year-on-year surge in value of e-commerce transactions by 37 percent and 82 percent in April 2023 and 2022 respectively.
Meanwhile, the volume of e-commerce transactions in Qatar totalled 5.05 million and 3.80 million in April 2023 and 2022 respectively.
Earlier data revealed that the value of e-commerce transactions in Qatar totalled QR3.66bn in March this year. In March 2023, e-commerce transactions in Qatar were valued at QR2.55bn, while it stood at QR3.09bn in March 2022.
The volume of e-commerce transactions registered in Qatar reached 6.44 million in March this year. Meanwhile, in March last year, the volume of e-commerce transactions in the country was 4.9 million and in March 2022, it stood at 4.34 million.
The volume of POS transactions reached 32.43 million in March of this year with a value of QR8.13bn in March 2024 against QR7.72bn and QR6.60bn respectively in March 2023 and 2022, a jump of 5.31 percent and 23.18 percent on yearly basis. The volume of POS transactions in Qatar in March stood at 29.50 million in 2023 and 23.20 million in 2022.
In line with the Third Financial Sector Strategy, and in the framework of developing the country's digital payments infrastructure, QCB also launched Himyan Debit Card recently. It is the first national prepaid card with a registered trademark in Qatar and is available at banks which can be used at all point of sale, ATMs, and online e-commerce transactions within the country.
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