Develop payment and settlement services to reduce fraud


In continuation of the efforts made by the Qatar Central Bank to promote the financial technology sector, C-Wallet Services has been granted a license to provide digital payment services, bringing the number of companies under the supervision and control of the bank in the financial technology sector to 8 companies.
The Qatar Central Bank had started a project to develop the infrastructure for payment and settlement systems, and the project provides new services that include: instant transfers between accounts.. the unified address service for making payments through the phone, personal number, or account number.. the central limit system service. From fraud and money laundering.. Electronic bill payment service.. Authorization and direct debit management services.
The project also provides new services, including: Credit services (buy now and pay later). And to provide a scalable future payment system capable of supporting population growth in the State of Qatar and increasing the number of transactions for the next 10 years. And the possibility of interoperability to provide a system that allows interoperability between payment operations, whether between a bank account or an electronic wallet. Providing instant payment and transfer services 24 hours a day.

Monitor all transactions
The project also provides services that include: ease of integration, as it supports open applications to serve both financial technology companies and financial institutions, and the provision of a control system that allows the Qatar Central Bank to monitor all transactions and maintain the confidentiality of information. In addition to merging most of the payment systems into a unified system at the Qatar Central Bank. Organizing and strengthening the management of liquidity and financial centers and developing settlement and clearing operations for the transactions executed on the accounts of the participating financial institutions.
Payment and reimbursement systems in Qatar include a number of systems, which are..
First- The Qatari Payment System (QPS):
It is one of the best mechanisms for settling payments between banks in Qatar. This system is designed to operate in the manner of immediate and direct total settlement and electronic processing without manual intervention. The system relies on the SWIFT network and its standard messages for authentication, local payment settlement, and transfer of ownership of securities. The Qatari payment system is linked to the clearing system in force at the Qatar Central Bank, as well as the system for registering government securities and issuing cash. Swift messages such as: MT202, MT203 are used in all applications.
Key features of the Qatar Payments System: An integrated system for real-time total settlement that allows all banks operating in Qatar to make inter-bank transfers through their accounts with the Qatar Central Bank. It also allows access to information in a timely manner through direct access to accounts with the Qatar Central Bank through Internet and Extranet technologies.
It has integration with the accounting record systems protection systems, as the repurchase and transfer of ownership of securities can be implemented 100% through SWIFT messages.
It is characterized by the ability to move from one settlement period to another and make payments at the specified settlement times. If the amounts are received after the end of the time specified for settlements, the value will be suspended until the next time.
Through it, it is also possible to generalize the use of SWIFT messages for repurchase operations, cash issuance, cash deposit, and exchange of notifications within the framework of bilateral agreements between the Qatar Central Bank and local banks, with the ability to classify payments according to their type.
The system is also based on the technology of the World Wide Web for the purpose of making payments and following up on their settlement with the electronic processing system without interference, allowing the operations departments in banks to monitor daily transactions. The system monitors the movements of any transaction from the moment of entry until the final processing, which leads to a reduction in manual intervention, and in the event of data mismatch, as in wrong information about the customer, it is discovered in a timely manner, which improves the quality of processing and reduces risks.
Account statements are sent to all local banks at the end of each clearing day, and the system is able to send emails, mobile messages, and WAP messages.

Gulf exchange network
(GCC Net):
The GCC countries have agreed to give top priority to the establishment of a single Gulf ATM network, whereby all stations of the national networks in the GCC countries are linked. The Gulf network provides many advantages while maintaining the international standards of similar networks. In light of the fixed exchange rates between the currencies of the GCC countries, the accounts of the member states are settled in the currency of each country without the need for an intermediary currency.
The members of the Gulf Network are:
– Saudi Network SPAN
Kuwait Network KNET
– Kingdom of Bahrain BENEFIT network
– Qatar NAPS network
Third- The national network of automated teller machines (ATMs) and POS points of sale, Nabis:
Nabis is the interface through which all local electronic retail transactions flow between local banks. Nabis also provides a gateway to other networks in the Gulf and the Middle East region – Lebanon and Egypt.
Objectives: To provide an effective payment settlement system. Providing an economical and safe mechanism between banks. Serves as a gateway between the Gulf countries and the Middle East region. Providing the necessary information to banks and the Qatar Central Bank.
Provide the service
for all segments of society
The Qatar Central Bank affirms that the Qatar Mobile Payment System (QMP) has achieved many advantages, the most important of which is the expansion of payment methods and electronic transfers in the country, in addition to achieving financial inclusion by providing service to all segments of society, including citizens, residents and visitors to the country.
In addition to financial transfers, instant payments around the clock, instant transfers to individuals through a phone number or a nickname, and facilitating electronic payment operations for merchants through the QR Code.
The central clarified that the service is available to all segments of society, including citizens, residents, and visitors, which ensures the achievement of financial inclusion, through registration and creation of a wallet remotely, registration without a minimum balance, and reducing dependence on cash in addition to paying low commissions.
He added that the Qatar Mobile Payment System (QMP) is the first interoperable national network for payment services and instant transfers via mobile phone at the Qatar Central Bank, as it works to connect all licensed mobile payment service providers in the country.
The system provides a new and secure method for instant electronic payment, allowing payment services and instant money transfers via mobile phones around the clock through electronic wallets.
E-wallets are registered on the system for the purposes of exchanging financial movements between e-wallets through payment service providers licensed in the country. Transfers from the wallet to bank accounts and vice versa can also be made for the same customer who owns the wallet. This would contribute to reducing dealing with paper and metal cash and the risks that follow such as losing it, damage and others.
It is possible to register and use the service through any of the payment service providers (banks and licensed service providers) participating in the system, and several wallets can be registered for citizens and residents in accordance with the provisions of the Qatar Central Bank and the payment service provider, and one wallet can be registered for visitors.
The service can be identified by the mobile phone number, a pseudonym (alias), or both. One wallet is registered for each mobile number, alias, or both.


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