The Central Bank’s New Digital Wallet Brings Together All Of Qatar’s Banks

Avatar

The Qatar Mobile Payment (QMP), which unites all Qatari mobile payment service providers, is the country’s first instant national digital wallet for transactions.

Through digital wallets that are registered on the QMP system, the solution offers a fresh and safe way for rapid payments and instant money transfers via cellphones around the clock.

The same consumer who owns the wallet at his bank may also move funds from the wallet to bank accounts and vice versa.

This should lessen the dangers associated with handling cash (coins and paper money) and resulting loss, damage, and other issues.

How to sign up for the QMP:

Any participant bank or authorised payment service provider (PSP) can help you register.

Notes:

  1. According to the rules set forth by the payment service provider and the Qatar Central Bank, citizens and residents may register multiple wallets.
    For guests, only one wallet can be registered.
  2. An alias name, a mobile phone number, or both can be used to locate the service.
  3. Every cellphone number, alias, or both are registered under a single wallet.

 

The primary services that the system supports are:

Money transfers can be made instantly between clients who have registered using any authorised payment service provider.

The following services offered by payment service providers are supported by the system:

  1. Personal financial transfers to friends and family, the payment of salary to household assistance, and other P2P transactions are examples.
  2. P2B (person-to-business) transfers include, among other things, guarantee fees, invoices, donations, transportation, and overseas transfers.
  3. Payment with QR Code: The technique enables quick payment acceptance at merchants registered with any reputable service provider.

 

List of Mobile Payment Service Providers (QMP) participating in the system:

  • Qatar National Bank
  • Qatar Islamic Bank
  • Doha Bank
  • Dukhan Bank
  • Qatar International Islamic Bank
  • Arab Bank
  • HSBC
  • Masraf Al Rayan
  • Ahli Bank
  • Commercial Bank
  • Ooredoo Money
  • iPay

Shopping
See more
More like this