Doha, Qatar: Qatar’s financial technology sector recorded unprecedented growth in July 2026, driven by a sharp rise in digital account-to-account transfers, rapid adoption of instant payment systems, and steady expansion in point-of-sale transactions.
According to official statistics released yesterday by the Qatar Central Bank (QCB), the total value of electronic payment system transactions in the country reached QR106.814bn, marking a 40 percent year-on-year increase compared to QR76.051bn recorded in July 2025.
Overall transaction volume across Qatar’s payment infrastructure rose 23 percent year-on-year, growing from 58.970 million transactions in July 2025 to 72.487 million in July 2026.
The central driver of this growth was the Tahweel system, which handles direct account-to-account bank transfers.
Total transfers executed via Tahweel jumped to QR77.051bn in July 2026, up 63 percent from QR47.256bn in July 2025.
Transaction volumes for Tahweel grew at an even steeper pace, surging 170 percent year-on-year from 1.568 million transfers to 4.233 million transfers.
This structural shift widened the market share of transfer payment systems, which accounted for 78.9 percent of the total value of all electronic payments in July 2026, up from 66.8 percent the previous year.
Qatar’s instant payment platforms also posted heavy gains across consumer and commercial user bases.
Transaction values under Fawran more than doubled, soaring 108 percent to QR6.802bn compared to QR3.272bn in July 2025. Volume mirrored this growth, rising 108 percent to 3.888 million transactions.
Meanwhile, total registered accounts on the platform reached 3.918 million.
On the other hand, the mobile wallet system recorded a 67 percent increase in total transaction value, climbing to QR461.664m in July 2026 from QR277.052m in the same month last year. Transaction volume escalated by 183 percent to reach 907,452 transactions, supported by 1.474 million total registered wallets.
Card-based payment transactions generated QR22.499bn across 63.459 million transactions in July 2026.
Overall card transaction volume increased by 15 percent year-on-year, while total value decreased by 11 percent, reflecting a shift toward smaller, more frequent everyday digital purchases alongside a reduction in cash withdrawals.
POS volume expanded from 40.328 million to 46.461 million transactions, with total spending remaining stable at QR8.262bn compared to QR8.221bn in July 2025. Digital commerce activity grew in volume to 11.818 million transactions (up from 9.180 million), while value slightly adjusted to QR4.215bn.
Cash usage saw a visible drop as ATM transaction volumes decreased to 5.179 million from 5.705 million, with total withdrawal values falling from QR12.661bn in July 2025 to QR10.023bn in July 2026.
The data added that continuous acceleration across Tahweel, Fawran, and QMP highlights Qatar’s ongoing transition toward a fully integrated, cashless financial ecosystem.
