Doha: Qatar Central Bank using Qatar Mobile Payment (QMP) has brought together all mobile payment service providers in the country under a single national interoperable system.
It listed the banks and mobile payment service providers that are part of its QMP system which lets users use the digital wallet registered to their mobile numbers to carry out electronic payments.
QIIB, QIB, Doha Bank, Dukhan Bank, QNB, Commercial Bank, ahlibank, HSBC, Masraf Al Rayan, and Arab Bank are the banks participating in the Qatar Mobile Payment (QMP) system.
Vodafone Qatar's iPay is also registered with the QMP system.
The system provides a new and secure means for instant payment and instant money transfers via smartphones around the clock through digital wallets registered on the QMP system. It is also possible to transfer from the wallet to bank accounts and vice versa for the same customer who owns the wallet at his bank.
Digital Wallet registration requirements:
- QID for citizens and residents.
- Proof of identity for visitors (passport and entry visa)
- Smartphone with internet connection
- An active mobile number from one of the Qatari telecom companies
The main advantages of the system:
- Expanding payment methods and electronic transfers in the country.
- Achieving financial inclusion by providing services to all segments of society, including citizens’ residents, and visitors.
- Remittances and payments are instant and around the clock.
- Instant transfers to individuals by phone number or alias.
- Facilitating electronic payments for merchants through the QR Code
- Register and create a digital wallet remotely.
- Registration does not require a minimum balance.
- Reduce dependence on cash
- Low commissions.
