Tuesday, 02 January 2024 12:17 GMT

Qatar's Payment System Logs Over 55 Million Transactions Worth QR16.68Bn In September


(MENAFN- The Peninsula) Deepak John | The Peninsula

DOHA: Qatar's payment system recorded over 55 million transactions valued at QR16.680bn in September this year.

Qatar Central Bank (QCB) stated in a post on its X platform recently that the total value of transactions across various payment systems reached QR16.680bn during September 2025 with a total volume of 55.079 million transactions.

Highlighting the share of each payment channel it noted that the point of sale transactions accounted for 51 percent, e-commerce for 25 percent, mobile payment systems accounted for 2 percent, and the 'Fawran' instant payment service for 22 percent.

The positive momentum continued in the point of sale and e-commerce transactions in Qatar which saw robust growth in September this year. The total value of transactions registered in the country through the point of sale (POS) terminals and e-commerce platforms reached QR12.4692bn, according to the latest card payment statistics.

Qatar Central Bank data revealed that the value of e-commerce transactions totalled to QR4.228bn with a total volume of 10.088 million transactions. On the other hand point of sale transactions recorded a total value of approximately QR8.464bn with a transaction volume of 42.425 million in September 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 scanner, and online billing and settlement.

According to Instant Transfer System Statistics for September this year, the instant payment system – Fawran service saw 3.387 million total registered accounts with the total value of QR3.693bn and total volume of 2.206 million transactions.

The statistics also pointed out that in September this year the Qatar Mobile Payment registered a total of 1.203 million wallets. The total value amounted to QR294.627m with the volume of around 359,425 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. The system has proven its efficiency in facilitating and improving payment processes by reducing the time required to transfer money between individuals and companies in Qatar.

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