Qatar’s payment systems processed a combined 59.954 million transactions in October, with the total value reaching QR18.474 billion, according to new data released by the Qatar Central Bank (QCB).

In an update posted on its X platform yesterday, QCB detailed how different payment channels contributed to overall activity during the month. Point of sale (POS) transactions made up 50 percent of the total volume, e-commerce accounted for 24 percent, the ‘Fawran’ instant payment system represented 25 percent, and mobile payment services contributed the remaining 1 percent.

POS and e-commerce activity continued to expand in October, driven by rising consumer adoption of digital payments. Combined, these two channels recorded QR13.6292 billion in transaction value. E-commerce payments contributed QR4.435 billion across 10.823 million transactions, while POS terminals registered approximately QR9.194 billion with a volume of 46.026 million transactions.

The POS system in Qatar supports a wide range of digital payment methods, including contactless card transactions, eWallets, mPOS devices, and QR code payments.

The latest figures highlight the rapid growth of Qatar’s fintech and online retail sectors as the country advances its shift towards a digital economy, aligned with the goals of Qatar National Vision 2030. Government-backed reforms, updated regulations, and rising customer demand have helped position the country as an emerging hub for digital finance. Qatar’s e-commerce market reached a value of QR7.8 billion last year, reflecting a 22 percent increase compared with 2024.

QCB’s Instant Transfer System Statistics for October show continued momentum for the Fawran service. The instant payment platform reported 3.446 million registered accounts, with a total value of QR4.556 billion processed through 2.682 million transactions during the month.

Mobile payments also recorded steady use. Qatar Mobile Payment reported 1.218 million wallets in October, handling QR289.416 million in value from around 421,491 transactions.

QCB has positioned Fawran as an “innovative and advanced service aligned with the Third Financial Sector Strategic Plan”. The bank said the system forms part of its broader work to upgrade national payments infrastructure and keep pace with developments in digital transactions and money transfers. According to QCB, its instant payment service aims to develop a “digital payment ecosystem in the country.”