QCB to launch Payment Gateway early next year

Friday 17 December 2004 11:55 CET | News

Qatar Central Bank (QCB) is to launch its Payment Gateway early next year, a first in the electronic payments field in the region, a service that would boost and ease e-commerce and e-transactions in Qatar.

Hashim Al-Sadda, Director of System and Planning at QCB told a news conference yesterday that the Gateway would allow for several electronic transaction applications. Local retail banks will have an opportunity to link up with the e-payment gateway, also called e-wallet, and provide their customers with real-time e-commerce experience, he said. He added that the QCB Payment Gateway will provide institutions with an opportunity to plan for a variety of applications, like e-procurement project, e-tendering etc... since the required infrastructure is already in place. Al-Sadda noted that the introduction of the gateway which has been successfully tested in a pilot project, is a very challenging task as it requires a far more advanced security system. Mamoun Eregat, Marketing Manager of Afkar Information technology Ltd., later told reporters that the system is one of the most important achievements in the field of electronic transactions that would benefit major institutions and ordinary customers alike. Online payments are currently made only through credit cards which is used by only few. But the new project would enable also debit cards holders, which means all bank account holders, to utilize the online facilities as well, he said. To highlight the benefits of the new system, QCB in co-operation Afkar Information Technology Ltd will organise an e-payments and e-Commerce on January 10, next year. A number of corporate members and central banks; representatives from the region are expected to attend the symposium which is specially designed to highlight QCB Payment Gateway project.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce