The Banking Executive Magazine - June 2025 Issue

QCB QATAR'S QCB RECORDS 54.02MLN PAYMENT SYSTEM TRANSACTIONS VALUED AT $4.19BLN IN MAY Qatar recorded as many as 54.02mn transactions valued at QR15.28bn through the country's payment sys- tem in May 2025 with point-of-sales constituting a vast majority, accord- ing to QCB data. Qatar recorded as many as 54.02mn transactions valued at QR15.28bn through the country's payment sys- tem in May 2025 with point-of-sales constituting a vast majority, accord- ing to Qatar Central Bank (QCB) data. The point-of-sales constituted 56% of the payment system transaction, fol- lowed by e-commerce 26%, Fawran or instant payment system 17% and Qatar Mobile Payment at 1% in the review period, the QCB said in its so- cial medial handle X. There were 42.74mn card transac- tions through point-of-sales, which enables merchants to process pay- ments and log transactions, valued at QR8.55bn in the review period. The 0.45mn e-commerce transaction were valued at QR3.97bn in the re- view period. The point-of-sales and e-commerce together constituted QR12.52bn in May 2025. Fawran – a real-time payment serv- ice in Qatar, allowing users to send and receive money instantly and se- curely within the country – registered as many as 1.65mn transactions val- ued at QR2.59bn in the review pe- riod. There have been a total of 3.1mn total registered Fawran ac- counts. Fawran was launched in 2024 and system members are QNB, Commer- cial Bank, Qatar Islamic Bank, Ahli Bank, Dukhan Bank, Doha Bank, QIIB and AlRayan Bank. Qatar Mobile Payment (QMP) – which allows immediate transfer of funds between registered customers through any registered payment serv- ice providers – saw as many as 189,000 transactions valued at QR181.97mn in May 2025. There has been a total of 1.34mn registered wallets. The QMP is a centralised payment system that was launched in 2020, to enable individuals and corporates to perform instant fund transfers be- tween e-wallets within payment serv- ice 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. Qatar Payment System (QPS) is de- signed on the concept of real-time gross settlement (RTGS) and elec- tronic straight through processing (e- STP). QPS is based on the SWIFT network and messages standards and utilises the SWIFT messages to rec- oncile and settle the local payments and securities ownership transfers. QPS is linked to the QCB clearing system, book-entry government se- curities system, and currency issuing application. All applications are driven by swift messages such as (MT202, MT203). Qatar's retail payment system com- prise electronic cheque clearing sys- tem; national network system for ATMS and Points of Sales (NAPS); QMP; direct deposit and debit (QATCH); electronic payment gate- way (QPay); wage protection system (WPS); and Fawran. ISSUE 198 JUNE 2025 the BANKING EXECUTIVE 13