It is Qatar Central Bank's first instant national interoperable switch for mobile payment services, connecting all licensed mobile payment service providers in the country. The solution provides a new and secure means for instant payment to allow payment services and instant money transfers via smartphones around the clock through digital wallets which are registered on the QMP system for the purpose of financial exchanges between electronic wallets through payment service providers licensed in the country. 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. This should reduce dealing with money notes (paper and coins) and the subsequent risks such as loss, damage, and others.
• Registration can be through any payment services providers (Banks and Authorised PSP) participating in the system.
• Multiple wallets can be registered for citizens and residents in accordance with the provisions of the Qatar Central Bank and the payment service provider
• Only one wallet can be registered for visitors.
• The service can be identified by a mobile phone number, Aliase name, or both.
• One wallet is registered for each mobile number or alias or both.
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 to the country.
- 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.
The main services supported by the system:
Instant money transfer
The system allows immediate transfer of funds between registered customers through any registered payment service providers. The system supports the following services as provided by payment service providers:
- person to person (P2P) transfer: an example of this is personal money transfers to friends, and family, payment of wages for house helpers, and others.
- person to businesses (P2B) transfer: for example, guarantee fees, invoices, donations, transportation, international transfers, and others.
QR Code Payment
The system allows accepting payment via a QR Code at merchants registered with any authorized service provider . Instantly
Participants in the system
The service is currently available by licensed service providers listed below. Each service provider works around the clock to develop and provide various services to customers according to the capabilities available at the current stage, and they will continue working hard to upgrade all services to achieve the best applicable customer experience.
List of Mobile Payment Service Providers (QMP) participating in the system as of today: