The Point of Sale (PoS) transactions in Qatar have seen a significant increase in April of this year. According to data from the Qatar Central Bank (QCB), PoS transactions were valued at QR7.56bn in April 2024, up from QR7.24bn in April 2023 and QR5.79bn in April 2022, showing a surge of 4.5 percent and 31 percent respectively. The volume of PoS transactions also increased, standing at 32.19 million in April this year compared to 28.03 million in April last year and 19.62 million in April 2022, an increase of 15 percent and 64 percent respectively. The number of PoS devices in Qatar has also increased, totaling 71,568 in April this year compared to 65,010 in April 2023 and 23,850 in April 2022.
PoS solutions offer innovative, secure, and efficient payment processing services by supporting various payment methods such as contactless card transactions, eWallet, mobile PoS (mPOS), QR code scanner, and online billing and settlement. Recently, QCB introduced the instant payment service Fawran, which aims to enhance the digital payment ecosystem in the country. This service benefits customers by enabling them to receive funds within seconds, operating 24/7 through mobile banking applications and digital channels.
In April 2024, the total count of active cards in Qatar showed that the number of active debit cards totaled 2,293,796, while credit cards and prepaid cards totaled 691,658 and 703,571 respectively. The volume of e-commerce transactions also saw a significant increase, reaching 6.92 million in April 2024 with a value of QR3.42bn, showing a year-on-year surge of 37 percent and 82 percent in April 2023 and 2022 respectively. The volume of e-commerce transactions in Qatar totaled 5.05 million and 3.80 million in April 2023 and 2022 respectively.
Furthermore, earlier data revealed that the value of e-commerce transactions in Qatar totaled QR3.66bn in March 2024, QR2.55bn in March 2023, and QR3.09bn in March 2022. The volume of e-commerce transactions in Qatar also increased in March of this year, reaching 6.44 million compared to 4.9 million in March 2023 and 4.34 million in March 2022. Additionally, the volume of POS transactions in March 2024 reached 32.43 million with a value of QR8.13bn, a jump of 5.31 percent and 23.18 percent on yearly basis compared to March 2023 and 2022.
In line with the Third Financial Sector Strategy, QCB has launched the Himyan Debit Card to enhance the country’s digital payments infrastructure. It is the first national prepaid card with a registered trademark in Qatar and is available at banks for use at all points of sale, ATMs, and online e-commerce transactions within the country. The introduction of new payment solutions and the increasing adoption of digital payment methods indicate a growing trend towards a cashless economy in Qatar.