Argus Advisory Research Logo Link
Sign In

TransUnion Completes Acquisition of Verisk Financial Services
TransUnion completed its acquisition of Verisk Financial Services. Together, our combined capabilities will help us better serve customers through enhanced insights into customer behavior. Read More.

Back home  /  Country Reports  /  Middle East  /  Qatar

Qatar Country Report

Already purchased?
  • Published Date: May 2022

QATAR CARDS AND PAYMENTS REPORT

A comprehensive overview of the cards, payments and consumer banking market in Qatar, with clearsighted commentary backed by relevant data.
Historically a cash-based society, the dual pressure of pandemic and the FIFA World Cup have forced the hand of financial institutions to go digital: one result has been a massive uptake of cashless payments, now supported by the new Qatar Mobile Payments System.
As with other markets in the region, financial inclusion is a priority for the authorities, with a legally enshrined wage-protection system binding salaries to the banking system. Domestic firms continue to hold sway, while sharia-based financial product are the norm for many.

What you will learn from this Qatar payments report:

How the payments environment has evolved with the rise of contactless, cashless modes and mobile payments
How credit and debit cards are used, with profitability indicators
E-commerce payment trends in the light of BNPL and card innovations
Mobile proximity payments data and commentary on app-based solutions
The credit card profitability mechanism in one of the world's most profitable markets
Network market shares and interchange tracking
How credit/debit cards market shares have been changing
The merchant acquiring landscape, including MSCs and processor relationships/shares
Notable laws and regulations, key statutory authorities and credit bureaux

QATAR COUNTRY REPORT | KEY FACTS

  • Occupying a small peninsula in the Persian Gulf, the State of Qatar is rich in oil and gas.
  • Qatar is a member of the Arab League and the Gulf Cooperation Council (GCC), emerging last year from a four-year period of diplomatic isolation in the region after a dispute with Saudi Arabia and some of its allies.
  • The large migrant-worker cohort and uneven distribution of wealth mean that financial services are often targeted at a small percentage of the population.
  • The government has taken several initiatives to encourage electronic payments in the lead up to November 2022's FIFA World Cup.
  • Consumer appetite has led the country's banks to fast-track the digitalisation of their banking services.
  • The Qatar Mobile Payment (QMP) System, launched in 2020, enables immediate mobile payments around the clock.
  • Cards are the most popular cashless payment method in Qatar
  • Contactless acceptance has soared since the arrival of Covid.

Qatar Payments Research | Report Contents

TABLE OF CONTENTS

Payments environment
Cards market
E-commerce
Fintech and mobile payments
Credit card profitability
Networks
Issuers
Merchant acquiring
Regulatory environment

Appendices: Qatar Payments Data Tables
Appendix I: Demographic and economic indicators
Data table 1: Demographic and economic indicators: 2016-21. Estimates and forecasts to 2025.
Data table 2: Ownership of key consumer devices: 2016-21. Estimates and forecasts to 2025.
Data table 3: Internet usage by population: 2016-21. Estimates and forecasts to 2025.

Appendix II: Payments environment

Data table 4: Access points: 2016-21. Estimates and forecasts to 2023.
Data table 5: B2C e-commerce payment methods: 2016-21. Estimates and forecasts to 2023.

Appendix III: Cards market

Data table 6: Total cards payment metrics: 2016-21. Estimates and forecasts to 2025.
Data table 7: Contactless cards metrics: 2016-21. Estimates and forecasts to 2025.
Data table 8: Credit card numbers: 2016-21. Estimates and forecasts to 2025.
Data table 9: Total credit cards metrics: 2016-21. Estimates and forecasts to 2025.
Data table 10: Credit cards profitability indicators: 2016-21. Estimates and forecasts to 2025.
Data table 11: Debit cards numbers: 2016-21. Estimates and forecasts to 2025.
Data table 12: Debit cards metrics: 2016-21. Estimates and forecasts to 2025.

Appendix IV: Mobile payments

Data table 13: Mobile proximity payment metrics: 2017-20. Estimates and forecasts to 2025.

Appendix V: Profit pool

Data table 14: Qatar market profit pool: 2016-21. Estimates and forecasts to 2025 including credit card numbers, billed volumes, outstandings, interest incomes, net interest revenues, merchant revenues, card fee revenues, other non-interest incomes, total revenues, net credit losses, operating expenses, total expenses, pre-tax profits, merchant service charges, rollover rates, APR, net credit losses to outstandings, operating costs to revenues, ROA (pre-tax profits to outstandings).

Appendix VI: The networks

Data table 15: Networks' credit card market shares: 2016-21. Estimates and forecasts to 2023.
Data table 16: Credit card interchange fees by network: 2016-21. Estimates and forecasts to 2023.
Data table 17: Networks' debit card market shares: 2016-21. Estimates and forecasts to 2023.
Data table 18: Debit card interchange fees by network: 2016-21. Estimates and forecasts to 2023.

Appendix VII: Key retail banks and issuers

Data table 19: Key credit card issuers' market shares by credit card numbers: 2018-21. Estimates and forecasts to 2023.
Data table 20: Key issuers' market shares in credit card outstandings: 2018-21. Estimates and forecasts to 2023.
Data table 21: Key debit card issuers' market shares by debit card numbers: 2018-21. Estimates and forecasts to 2023.

Appendix VIII: Acquiring and processing

Data table 22: Merchant acquirer credit card market share: Estimates for 2022.
Data table 23: Credit card merchant service charges: 2016-21. Estimates and forecasts to 2025.
Data table 24: Merchant acquirer debit card market share: Estimates for 2022.
Data table 25: Debit card merchant service charges: 2016-21. Estimates and forecasts to 2025.
Data table 26: Credit card issuer/issuing processor relationships
Data table 27: Credit card acquirer/acquiring processor relationships
Data table 28: Credit card issuing processor market shares by card numbers: Estimates for 2022.
Data table 29: Credit card acquiring processor market shares by the number of POS transactions: Estimates for 2022.

Qatar Country Report | Selected Extracts

Payments Environment
Qatar is steadily turning from a cash-based society to one where demand for electronic payments is increasing and expected to increase substantially during November 2022's FIFA World Cup.

Cards Market
Historically a cash-based society, Qatar's payment cards market has seen significant development in recent years. Total card issuance has increased by almost a third since 2016.

E-commerce
There has been significant growth in total e-commerce turnover here over several years, accumulating to record spending in 2021.

Fintech and mobile
The major commercial and Islamic retail banks all offer mobile banking services, including bill payment, depositing funds and overseas remittances.

Credit Card Profitability
Qatar has a highly profitable credit cards market, thanks to the affluent nature of the customer base.

Card Networks
Visa and Mastercard are the two principal networks operating in Qatar, with Diners Club and American Express having a marginal market share.

Issuers
Qatar's banking system has 18 licensed banks, of which eleven are domestic institutions and seven come from overseas.

Merchant Acquiring
There are three key acquirers operating in Qatar, with Commercial Bank of Qatar (CBQ) and QNB dominating the market.

Regulatory Environment
QCB: Qatar Central Bank is the central bank of the country, responsible for the overall stability of the financial system.

Qatar Payments Report | Entities Referenced

American Express
Apple Pay
Arab League
Barwa Bank
CBQ
CIPR
Commercial Bank of Qatar
Competition Protection Department
CPD
Customer and investor protection rules
Diners Club
Doha Bank
D-pay
Dukhan Bank
Dun & Bradstreet
FIFA World Cup
Fitbit Pay
Garmin Pay
GCC
Gulf Cooperation Council
HSBC
IMF
International Monetary Fund
International Telecommunication Union
ITU
JCB
Mastercard
Ministry for Commerce and Industry
Ministry of Transport and Communications
MOTC
mPay
NAPS
National ATM and POS Switch
Payment Services Regulations
Planning and Statistics Authority
PSA
Qatar Airways
Qatar Central Bank
Qatar Credit Bureau
Qatar Financial Centre Regulatory Authority
Qatar Information Exchange
Qatar International Islamic Bank
Qatar Islamic Bank
Qatar Mobile Payment System
Qatar National Bank
QCB
QCB Law
QFCRA
QIB
QIIB
QMP
QNB
Real Time Gross Settlement System
RTGS
StanChart
Standard Chartered
Tamara
UnionPay
Visa
Vodafone
Wage Protection System
WeChat Pay
World Bank
World Cup

MORE MIDDLE EAST PAYMENTS REPORTS

Argus Advisory Research reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit throughout the Middle East. Analysts and researchers use both primary and secondary source data and conduct in-depth interviews with senior industry executives and Middle East experts.

See more Middle East Country Reports or explore the full range of worldwide cards & payments reports available for markets worldwide or view our latest report updates.

To find out more or to discuss subscription options, please email: research_enquiries@argusinformation.com or telephone: +44(0)20 7337 4200.