Visa sees rise in mPOS usage among Qatar merchants, SMEs


February 4, 2015 | By RetailME Bureau

Qatar has been witnessing a major shift from traditional to electronic payments, with merchants making more transactions via mobile point-of-sale (mPOS) compared to traditional POS setups. Two factors – cost efficiency and technological advancements – are expected to drive growth in the use of mPOS devices among merchants and small and medium-sized enterprises (SMEs) in Qatar, says Rahul Joshi, Visa country manager.

“Apart from mobility, other advantages of mPOS include low-cost smartphones, no landline costs and no hassles caused by power outages, especially in developing countries,” explains Joshi, adding that mPOS eliminates transaction hassles, especially in businesses that require customers to pay in cash such as taxis, home delivery, courier services and petrol stations, among others.”

“Merchants who do not see any value from the traditional setup will find mPOS more attractive not from a mobility point of view but because of low cost. Moreover, it is even commercially viable for banks to put up mPOS machines even when volume is less making it beneficial to new start-ups.”

Qatar’s payment industry also has a high potential for growth. According to VisaNet data, cardholder spending in Qatar was mainly directed towards government services, retail and supermarkets. VisaNet data recorded 3Q 2014 indicated that debit cards accounted for about three-fourths of all Visa cards in circulation in Qatar, which means the credit card business in Qatar still holds untapped potential. “Additionally, one out of every three dollars on a Visa credit card issued in Qatar is spent internationally, with retail emerging as the top followed by hotel accommodation. This also indicates growing share of travel expenses, cross-border purchases and e-commerce volumes,” Joshi reveals.

“Visa card usage in Qatar is growing at a consistent, promising pace, although cardholders in this market are still largely skewed towards our debit products. With international spending on the rise, and a promising outlook for e-commerce in the region, we expect Qatar to register strong growth in credit card acceptance and use in the coming years,” he concludes.

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /



Walmart announced this week that it will offer Paramount Global’s streaming service 

Continue Reading

August 19, 2022 | By RetailME Bureau

Employee retention has been on every company’s minds, especially since the fears 

Continue Reading

August 16, 2022 | By Shruthi Nair

The Frozen Chicken’ as Spinneys was fondly referred to back in the 

Continue Reading

August 8, 2022 | By Shruthi Nair

Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the 

Continue Reading

July 20, 2022 | By Justina Eitzinger

GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading 

Continue Reading

July 19, 2022 | By Justina Eitzinger

Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot 

Continue Reading

May 9, 2022 | By Shruthi Nair

Eid Al-Fitr is an occasion to gather with your friends and family 

Continue Reading

April 29, 2022 | By Zubina Ahmed

Leading retailer LuLu Group further strengthened its presence in the Emirate of 

Continue Reading

April 28, 2022 | By RetailME Bureau

Jones the Grocer, the Australian gourmet grocer and café chain, announces further 

Continue Reading

April 28, 2022 | By RetailME Bureau

What is a perfect healthy snack for Ramadan? An assortment of  dried 

Continue Reading

April 14, 2022 | By Zubina Ahmed

With Ramadan almost at it’s first week, we are wondering where can 

Continue Reading

April 6, 2022 | By Zubina Ahmed

In spirit of the holy month, Amazon announced that it will contribute 

Continue Reading

April 5, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine