Representational image / Freepik
Doha, Qatar: The e-commerce and point of sale (POS) transactions in Qatar witnessed impressive growth in June, Qatar Central Bank (QCB) revealed yesterday.
Through its social media handle, QCB stated that the volume of e-commerce transactions reached 7.26 million in June 2024 with a value of QR3.47bn showing a year-on-year surge in the value of e-commerce transactions by 40 percent and 16 percent in June 2023 and 2022 respectively.
The volume of e-commerce transactions in Qatar reached 5.09 million and 4.37 million in June 2023 and 2022 respectively. The Point of Sale (POS) transactions in Qatar also witnessed a surge in June this year.
POS transactions were valued at QR7.78bn in June 2024 compared to QR7.54bn in June 2023 and QR6.59bn in June 2022 showing a surge of 3.18 percent and 18.05 percent respectively, Qatar Central Bank (QCB) data revealed, yesterday.
The volume of point-of-sale transactions stood at 34.83 million in June this year, while it was 31.06 million in June last year and 23.82 million in June 2022, an increase of 12.13 percent and 46.22 percent respectively.
The number of point-of-sale devices in Qatar totalled 73,979 in June this year compared with 66,775 in June 2023 and 51,874 in June 2022, QCB data further noted.
PoS 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.
Revealing the details of the total count of active cards in Qatar in June this year, the data showed the number of active debit cards totalled 2,294,161. While the credit cards and prepaid cards totalled, 723,199 and 713,434 respectively in June 2024.
In line with the Third Financial Sector Strategy, and in the framework of developing the country’s digital payments infrastructure, QCB also launched Himyan Debit Card recently. It is the first national prepaid card with a registered trademark in Qatar and is available at banks which can be used at all point of sale, ATMs, and online e-commerce transactions within the country.
Recently, QCB launched the innovative instant payment service Fawran which aims to develop a digital payment ecosystem in the country. The service significantly benefits customers across the country and enables the beneficiaries to receive funds within seconds. It operates 24/7 and can be used through mobile banking applications and digital channels.
