Tribune News Network
Doha
the Qatar Central Bank (QCB) has launched a new direct integration service that enables Fintech companies to process card payments via the National Network System for ATMs and Points of Sale (NAPS) and the e-commerce Payment Gateway (QPay).
Announced in line with the Third Financial Sector Strategy, this initiative underscores QCB’s ongoing efforts to enhance the Fintech sector and support the growth of national startups. The move aims to simplify and optimize the payment infrastructure by allowing Fintech firms to directly connect with the country’s core financial networks.
As a first step in the implementation of the integration, QCB revealed that Sadad Payment Solutions has become the first Fintech company to successfully establish a direct link with both NAPS and QPay. This will allow Sadad to process card payments more efficiently, without relying on third-party intermediaries.
By allowing direct integration, the Central Bank is reducing the technological and financial barriers that often hinder small and mid-sized Fintech enterprises from scaling their services.
“This step reflects a significant advancement in supporting Fintech companies,” QCB said in its announcement. “It will improve payment efficiency, reduce costs for both merchants and Fintech companies, and foster innovation within the sector to establish a national economy based on knowledge and innovation.”
