iPay by Vodafone Qatar and Ooredoo Money has received the first licenses from <a href="https://www.qcb.gov.qa/" target="_blank" rel="nofollow noopener">Qatar's Central Bank</a> for digital payment services, the bank announced in a tweet on Tuesday.

https://twitter.com/QCBQATAR/status/1564509935119044609

According to the statement, <a href="https://www.cryptoknowmics.com/news/yuga-labs-releases-ip-licensing-agreement-for-cryptopunks-and-meebits/" target="_blank" rel="noopener">licensing</a> online payment businesses is the first step toward adding more digital payment businesses to the central bank's oversight. QCB stated its goals are to advance financial inclusion and help the nation's financial technology sector grow.
<h2>Qatar Improving Digital Payment Infrastructure</h2>
Qatar is improving its digital payment infrastructure to accommodate an increase in foreign tourists as it prepares to host the FIFA World Cup this winter. Qatar saw the launch of the Google Pay digital wallet last week. According to QCB's tweet on the development, "all worldwide digital wallet services for cards, like Apple Pay and Samsung Pay, are now accepted in Qatar, enabling tourists, particularly during the world cup, to process and finish their digital purchases."

Qatar's banking industry is relatively minor compared to that in other GCC nations like Kuwait and the United Arab Emirates, despite being home to Qatar National Bank (QNB), the largest financial institution in the Middle East in terms of total assets owned. Even though the industry is small, it has emerged as a hub for innovation because of foreign IT companies' presence in the nation.
<h2>QNB First To Deploy Open Banking Platform</h2>
Using an open API to give its clients and partners access to its core banking systems, QNB became the first bank in the nation to deploy its open banking platform in June of this year. With the help of QNB's open banking platform, Ooredoo wallet owners may now access banking services like virtual IBAN and <a href="https://www.cryptoknowmics.com/news/mastercard-binance-partner-to-unlock-blockchain-technology-potential/" target="_blank" rel="noopener">MasterCard</a>, payroll solutions, and remittances.

Qatar Central Bank Issues First Digital Payments License

iPay by Vodafone Qatar and Ooredoo Money has received the first licenses from Qatar's central bank for providing digital payment services.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Qatar Central Bank Issues First Digital Payments License

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