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Thursday, August 20, 2026 | Daily Newspaper published by GPPC Doha, Qatar.

Tag Results for "payment system" (4 articles)

Gulf Times
Qatar

Outward remittances hit QR12.9bn in Q1

Workers' remittances from Qatar reached QR12.9bn in the first quarter of 2026, up 21.7% from QR10.6bn a year earlier and 7.8% higher than the QR12bn recorded in the previous quarter.The rise means an additional QR2.3bn was transferred abroad in the latest quarter compared with the same period of 2025, with a quarter-on-quarter increase of around QR0.9bn — indicating that the growth was not merely a comparison against a low base a year earlier but continued from the preceding quarter.The figure places outward remittances among the notable movements within Qatar's balance of payments during the opening quarter. Remittances are recorded under the secondary-income account, which captures current transfers between residents and non-residents. For Qatar, the category is closely associated with the large number of foreign workers living and working in the country and transferring part of their earnings to families and beneficiaries abroad.Expatriate workers are spread across construction, hospitality, services, transport, domestic work, retail and professional services, reflecting the breadth of business activity in the country.Although remittances represent an outflow from Qatar, they form an important part of the economic relationship between the country and the labour-supplying economies from which its expatriate workforce originates. The transfers provide income support to families overseas and contribute to household consumption, education, housing and other expenditure in recipient countries.Qatar Central Bank (QCB) identifies balance-of-payments statistics as an important measure of the country's economic relationship with the rest of the world. Its Balance of Payments and International Statistics Section collects and analyses data on international transactions in co-ordination with financial institutions and government entities, publishing the resulting statistics in accordance with established international standards.The QCB has also reported substantial growth in domestic digital payment activity in 2026, including strong increases in instant transfers and other electronic payment channels. Its April 2026 payment statistics showed the value of transactions through the Instant Payment System rising from QR2.106bn in April 2025 to QR5.964bn a year later, while transactions through the bank-account transfer system increased from QR40.483bn to QR83.283bn.The expansion of digital financial services has considerably enhanced remittance flows, as faster and more accessible payment channels facilitate international transfers and reduce reliance on traditional cash-based mechanisms. 

Gulf Times
Business

Fawran transactions value jumps 145% to QR6.745bn in June: QCB

Qatar’s instant payment infrastructure recorded a significant surge in activity during June, with the Fawran Instant Payment System posting substantial year-on-year growth in both transaction value and volume, according to the latest statistics released by the Qatar Central Bank (QCB).The figures highlight the accelerating adoption of digital payments in Qatar and the growing role of instant transfers in the country’s financial ecosystem. Accordingly, the total value of transactions processed through Fawran reached QR6.745bn in June 2026, compared with QR2.752bn in June 2025, an annual increase of 145%.In absolute terms, transaction value rose by around QR3.993bn over the 12-month period, meaning the value processed through the system was about 2.45 times higher than the level recorded in June last year.The transaction volumes also recorded strong growth, rising to 3.886mn in June this year, compared with 1.735mn in June 2025. This is an increase of 124%, or around 2.151mn additional transactions in just one year, which clearly indicates the rapidly expanding use of instant payments among individuals and businesses across the country.The increase in transaction value was faster than the rise in transaction volume, indicating that users were making more payments through the system in addition to transferring larger amounts on average. Based on the reported figures, the average transaction value increased from around QR1,586 in June 2025 to QR1,736 in June 2026, an increase of around 9.5%.The QCB's statistics indicate that the user base of system is expanding. The total number of registered accounts reached 3.884mn, underlining the broad adoption of instant payment services and the increasing integration of digital financial solutions into everyday transactions.Fawran forms part of Qatar’s broader digital payments infrastructure overseen by the QCB. The system enables customers to make instant transfers between participating bank accounts, supporting faster and more convenient movement of funds. Its availability around the clock and the use of different identifiers for beneficiaries are designed to make transfers more accessible while supporting efficient and secure digital transactions.The system’s rapid growth reflects a wider shift in consumer and business payment behaviour, as digital channels increasingly replace traditional methods of transferring money. The sharp increase in both transaction volume and value suggests that instant payments are becoming an increasingly important component of Qatar’s financial infrastructure, supporting faster transactions and greater convenience for users.The June 2026 figures also build on the growth recorded during the previous year. Fawran transaction value had already increased from QR2.752bn in June 2025 to QR5.092bn in December 2025, while the number of monthly transactions rose from 1.735mn to 3.187mn during the same period. The further increase to QR6.745bn and 3.886mn transactions in June 2026 indicates continued momentum in the adoption of instant payment services.Alongside instant payment services, the country’s payment ecosystem includes mobile payment solutions, electronic payment gateways, automated teller machine and point-of-sale networks, as well as systems supporting high-value interbank settlements.The latest figures provide a clear indication of the pace at which digital payments are becoming embedded in Qatar’s financial landscape. With QR6.745bn in transactions, 3.886mn transactions and 3.884mn registered accounts recorded in June 2026, Fawran is emerging as a major channel for fast digital money transfers. The annual growth rates of 145% in transaction value and 124% in transaction volume underscore the growing demand for instant, convenient and digitally enabled financial services, while reinforcing the QCB efforts to develop a modern and efficient payments ecosystem in support of the country’s broader digital transformation. 

The domestic real time payment service Fawran reported a robust double-digit growth in volumes and value, according to the Qatar Central Bank data
Business

Qatar records 59.95mn payment system transactions valued at QR18.47bn in October: QCB

Indicating the increased use of electronic means in the financial sector, Qatar saw a total of 59.95mn transactions valued at QR18.47bn through the country's payment system in October 2025 as the domestic real time payment service Fawran reported a robust double-digit growth in volumes and value, according to the Qatar Central Bank (QCB) data.The number of transactions and total value grew 8.84% and 10.73% month-on-month respectively in October 2025, the QCB said in its social media handle X.The Qatar Payment System (QPS) is designed on the concept of real-time gross settlement (RTGS) and electronic straight through processing (e-STP).The point-of-sales constituted 50% of the payment system transaction, followed by e-commerce 25%, Fawran or instant payment system at 24% and QMP at 1% in the review period.There were 46.03mn card transactions through point-of-sales – which enables merchants to process payments and log transactions – valued at QR9.19bn in October 2025. The card transactions increased 8.48% and 8.63% month-on-month in volume and value respectively.The e-commerce transactions witnessed as many as 10.82mn transactions valued at QR4.44bn in the review period. The number of transactions and their total value jumped 7.23% and 4.96% respectively compared with September 2025.The point-of-sales and e-commerce together amounted to QR13.63bn through 56.85mn transactions this October, which showed 8.24% and 7.41% surge in volume and value respectively on a monthly basis.Fawran – a real-time payment service in Qatar, allowing users to send and receive money instantly and securely within the country – registered as many as 2.68mn transactions valued at QR4.56bn in October 2025, shooting up 21.27% and 23.58% month-on-month respectively.The total number of Fawran accounts registered a 1.77% month-on-month growth to 3.45mn in the review period.Fawran was launched in 2024 and system members are QNB, Commercial Bank, Qatar Islamic Bank, Ahli Bank, Dukhan Bank, Doha Bank, QIIB and AlRayan Bank.QMP – which allows immediate transfer of funds between registered customers through any registered payment service providers – saw as many as 421,491 transactions valued at QR289.42mn in October 2025. While total number of transactions zoomed 17.26%, total value was down 1.77% against September 2025 levels.There has been a total of 1.22mn registered wallets in the review period, registering a marginal 0.83% increase on a monthly basis.The QMP is a centralised payment system that was launched in 2020, to enable individuals and corporates to perform instant fund transfers between e-wallets within payment service providers in Qatar.The system members are QNB, Commercial Bank, Doha Bank, Qatar Islamic Bank, Ahli Bank, QIIB, Arab Bank, HSBC Qatar, AlRayan Bank, Dukhan Bank, i-pay and Ooredoo Money.The QPS is based on the SWIFT network and messages standards and utilises the SWIFT messages to reconcile and settle the local payments and securities ownership transfers.Qatar's retail payment system comprise electronic cheque clearing system; national network system for ATMS and Points of Sales (NAPS); QMP; direct deposit and debit (QATCH); electronic payment gateway (QPay); wage protection system (WPS); and Fawran.

Gulf Times
Business

Qatar records 55.08mn payment system transactions valued at QR16.68bn in September: QCB

Qatar witnessed a total of 55.08mn transactions valued at QR16.68bn through the country's payment system in September 2025, according to the Qatar Central Bank (QCB) data.Qatar Payment System (QPS) is designed on the concept of real-time gross settlement (RTGS) and electronic straight through processing (e-STP).The point-of-sales constituted 51% of the payment system transaction, followed by e-commerce 25%, Fawran or instant payment system at 22% and Qatar Mobile Payment or QMP at 2% in the review period.There were 42.43mn card transactions through point-of-sales – which enables merchants to process payments and log transactions – valued at QR8.46bn in September 2025.The e-commerce transaction winessed as many as 10.09mn transactions valued at QR4.23bn in the review period.Fawran -- a real-time payment service in Qatar, allowing users to send and receive money instantly and securely within the country -- registered as many as 2.21mn transactions valued at QR3.69bn in September 2025.There have been a total of 3.39mn total registered Fawran accounts in September this year.QMP – which allows immediate transfer of funds between registered customers through any registered payment service providers – saw as many as 359,462 transactions valued at QR294.63mn in September 2025. There has been a total of 1.21mn registered wallets in the review period.The QMP is a centralised payment system that was launched in 2020, to enable individuals and corporates to perform instant fund transfers between e-wallets within payment service providers in Qatar.