Qatar Payment Industry Overview
The Qatari payments market is highly fragmented, with major players like Commercial Bank of Qatar, Qatar National Bank, Doha Bank, PayPal Holdings Inc., and CashU. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their service offerings and gain sustainable competitive advantage. For instance,
- In May 2024, QNB launched its exclusive special edition virtual cards skin. These exclusive card designs represent a combination of cutting-edge technology and timeless elegance, reflecting QNB's dedication to sustainable and personalized banking experiences. The virtual-only card designs were developed to further demonstrate QNB’s proactive commitment toward greater sustainability and reducing the industry’s environmental footprint.
- In February 2024, Commercial Bank announced its collaboration with Visa by introducing Visa Installment Solution (VIS) to its merchant partners in the region. Through this partnership, Commercial Bank became the first acquiring bank in the region to offer installment solutions to merchants. VIS is an API-based ecosystem solution that offers an open-loop installment solution during purchase, whether at point-of-service terminals or online, so credit cardholders can effortlessly divide their expenses into more manageable payments over a period of up to 48 months.
Qatar Payment Market Leaders
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Commercial Bank Of Qatar
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Qatar National Bank
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Doha Bank
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PayPal Holdings Inc.
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CashU
- *Disclaimer: Major Players sorted in no particular order
