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Qatar Introduces Digital Payment Services Ahead of FIFA World Cup.
On Tuesday, Qatar’s central bank announced that it had issued its first license for digital payments services to iPay by Vodafone Qatar and Ooredoo Money. As FIFA 2022 Qatar inches closer, the country is preparing itself for a significant influx of tourists and visitors by working to ensure that its infrastructure is up to par.
أصدر مصرف قطر المركزي أول ترخيص في الدولة لشركتين تمارسان نشاط تقديم خدمات الدفع الإلكتروني.#مصرف_قطر_المركزي pic.twitter.com/XSqoO1V3SO
— مصرف قطر المركزي (@QCBQATAR) August 30, 2022
The FIFA World Cup is estimated to bring in 1.5 million visitors to Qatar, and the country is therefore aiming to have a payment system that will accommodate the needs of both local and international visitors.
This development comes after the central bank announced that Qatar’s banks were ready to launch payment services using GooglePay, ApplePay, and Samsung Pay. The Central Bank also announced that all global card issuers’ electronic wallet services would be accepted in Qatar.
Qatar’s central bank will supervise all digital payment services to develop a “safe and efficient” payments ecosystem in the country.
Ooredoo and Vodafone
The licensees, Ooredoo and Vodafone, are required to comply with the requirements and standards set by the central bank.
Ooredoo’s Money Wallet allows users to manage their financial transactions, send money, and make payments quickly and easily from anywhere using their mobile phones. Vodafone’s iPay service will offer a similar experience to users.
This is a big step forward for financial inclusion in Qatar. Mobile money apps are a convenient way to make payments and send money, especially for those who do not have a bank account.
Qatar’s central bank has also urged local and international financial institutions to work together to provide “the best possible” digital payment experience for visitors during the FIFA World Cup.