Dublin, Jan. 22, 2026 (GLOBE NEWSWIRE) -- The "Qatar Payments - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.
The Qatar payments market, valued at USD 7.04 billion in 2025, is poised for impressive growth, anticipated to reach USD 14.54 billion by 2031. This acceleration, marked by a CAGR of 12.84% from 2026 to 2031, stems from the Qatar Central Bank's Third Financial Sector Strategy. Emphasizing innovation and efficiency, this strategy is reshaping the market's payment rails.
The rapid expansion benefits from the youth-driven mobile-first approach and substantial merchant fee reforms that reduced debit MDRs to 0.5% for micro-merchants and 1.1% elsewhere. Collaborative efforts like Doha Bank's partnership with Nium for cross-border transfers and QNB's integration with India's UPI enhance interoperability. Meanwhile, the Fawran service processed QR 10.1 billion in account-to-account flows, indicating strong demand for seamless transactions, thus propelling further growth as cash declines and digital platforms advance.
National payments-infrastructure modernization
The launch of QA-RTGS in December 2024, aligning with ISO 20022, provided banks with immediate and irrevocable gross settlement capabilities. Fawran's proxy-ID service has expedited transferring times from hours to seconds. By May 2025, it facilitated 5.5 million transactions, fostering a network effect among users. The regulator's support for fintech integration via APIs further enriches the product diversity. These developments are paving the way for a cash-lite economy and significant growth in the Qatar payments market.
FIFA 2022 legacy and contactless merchant acceptance
Legacy effects from the FIFA 2022 World Cup, including terminal upgrades and visitor influx, solidified contactless payment norms. Visa's study revealed that 86% of Qatari merchants find digital acceptance indispensable. With nearly total terminal coverage at fuel stations, grocery stores, and pharmacies, and noting that 92% of April 2025 card purchases were contactless, mega-event infrastructure leaves a lasting effect on commerce.
Challenges with QR code adoption in SMEs
Despite advances, many small retailers rely on proprietary QR codes over the QMP standard, leading to varied consumer experiences. The Qatar Central Bank's subsidies for merchant onboarding and NAPS integration aim to boost SME adoption of standardized QR solutions. However, costs and training hurdles temper immediate adoption, moderating the short-term growth trajectory.
Additional drivers and challenges:
- Cross-border e-commerce from regions like China and Turkey bolsters alternative payment methods.
- Increasing mobile-wallet penetration.
- Limited interoperability between wallet providers and banks.
Segment Analysis
Point-of-Sale (POS) card payments account for 51.30% of 2025 spending, driven by reduced debit MDRs. POS leads with a 58.20% revenue share, yet digital wallet transactions are accelerating, projected to achieve a 23.15% CAGR. With improved wallet convenience and interoperability, the digital wallet sector is set to expand significantly to USD 5.35 billion by 2031. The card-not-present segment remains vital due to advances like 3-D Secure 2.0. The Buy Now, Pay Later (BNPL) segment is also gaining traction, propelling the wider market dynamics.
In 2025, in-store POS transactions composed 76.40% of volume, but mobile commerce is rapidly closing the gap, driven by high smartphone penetration and complete internet coverage. E-commerce/m-commerce is projected to see a 17.72% CAGR, facilitating a diversified channel mix. With subsidized QR-terminal expansions and Android softPOS frameworks, acceptance is becoming more hardware-efficient. By 2031, e-commerce within Qatar's payments market should surpass USD 4.45 billion.
Key Topics Covered
1 INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET LANDSCAPE
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain Analysis
- 4.5 Regulatory Outlook
- 4.6 Technological Outlook
- 4.7 Porter's Five Forces Analysis
- 4.8 Evolution of the Payments Landscape in Qatar
- 4.9 Key Cashless Adoption Trends
- 4.10 Stakeholder Analysis
- 4.11 Case Studies and Use-cases
- 4.12 Key Demographic Trends Impacting Payments
- 4.13 Assessment of Macro Economic Trends on the Market
5 MARKET SIZE AND GROWTH FORECASTS (VALUES)
- 5.1 Segmentation by Mode of Payment
- 5.2 Segmentation by Interaction Channel
- 5.3 Segmentation by Transaction Type
- 5.4 Segmentation by End-user Industry
6 COMPETITIVE LANDSCAPE
- 6.1 Market Concentration
- 6.2 Strategic Moves and Partnerships
- 6.3 Market Share Analysis
- 6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK
- 7.1 White-space and Unmet Needs Assessment
A selection of companies mentioned in this report includes, but is not limited to:
- Qatar National Bank
- Commercial Bank of Qatar
- Doha Bank
- Qatar Islamic Bank
- Qatar International Islamic Bank
- QPAY International LLC
- Qatar Mobile Payment System
- Ooredoo Money
- Vodafone Qatar Pay
- PayPal Holdings, Inc.
- Apple Inc.
- Google LLC
- CashU
- Samsung Electronics Co., Ltd.
- Mastercard Incorporated
- Visa Inc.
- American Express Company
- ACI Worldwide, Inc.
- Network International Holdings plc
- Fiserv, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/h48pdd
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