Doha, Qatar: Qatar Central Bank (QCB) announced the provision for Fintech companies to process card payments through direct integration with the National Network System for ATMs and Points of Sale (NAPS) and the e-commerce Payment Gateway (QPay).
This comes in line with the Third Financial Sector Strategy and as part of the central bank's ongoing efforts to enhance the Fintech sector and support national startups.
QCB announced the launch of direct integration process for 'Sadad Payment Solutions' as the first Fintech company to establish direct integration with NAPS and QPay for card payment processing.
This step represents a significant advancement in supporting Fintech companies, improving payment efficiency, reducing costs for merchants and Fintech companies, and fostering innovation within the sector to establish a national economy based on knowledge and innovation.
Additionally, this move reflects Qatar Central Bank's commitment to supporting national startups by enabling them to provide advanced payment solutions that meet public demand and contribute to enhancing the country's digital payments ecosystem.
