Digital payments are becoming more prevalent around the world as businesses adopt technological advancements. Yet, it can be challenging to pinpoint the appropriate payment gateway Qatar solution for your web commerce, as there are many aspects to contemplate, like transaction channels, charges, payment gateway provider’s dependability, and assistance. Today, we will explore the value of electronic transfers for enterprises in the region and the benefits of using Akurateco white-label payment solutions.
Payment Gateway Market in Qatar
The country has invested heavily in developing its digital infrastructure and promoting web commerce as a way to boost its non-oil sectors. As a result, the demand for online payment gateway Qatar solutions has increased significantly, especially after the COVID-19 pandemic, which accelerated the shift to cashless transactions.
According to a report by Statista, the market size of the e-commerce industry in the country is expected to reach five billion U.S. dollars by 2025. To cater to the needs of online shoppers and merchants, various financial solutions have emerged, offering many features, pricing, and protection levels.
Importance of electronic payments for business in the region
Electronic transfers are vital for any business that wants to succeed in the online market. By accepting digital transactions, enterprises can:
- Reach a wider customer base internationally and increase their sales and revenue.
- Reduce fraud and theft risks with a powerful anti-fraud.
- Improve customer satisfaction and loyalty by offering multiple financial options, fast checkout, and easy refunds.
- Enhance their brand image and reputation by showing professionalism, reliability, and trustworthiness.
- Gain valuable insights and data by tracking and analyzing customer behavior, preferences, and feedback.
How to launch a payment gateway in Qatar
If you want to become a payment gateway provider in Qatar, you can develop a payment solution on your own. However, embarking on an independent development path to launch a payment gateway in Qatar requires substantial investment and expertise. It involves assembling a proficient development team to create a customized gateway solution tailored to local requirements and regulations. While this approach offers full control and potential for innovation, it demands significant time, resources, and expertise to navigate the complexities of building and maintaining a payment infrastructure in Qatar.
Alternatively, businesses can opt to leverage a ready-to-use white-label payment gateway when launching in Qatar. By partnering with a reputable payment service provider offering white-label solutions, companies gain access to a pre-built payment infrastructure that is already compliant with local regulations and integrated with major banks and payment networks in Qatar. This approach minimizes time-to-market and reduces upfront costs and operational complexities associated with independent development. While it may entail less customization compared to independent development, the white-label payment gateway offers a cost-effective and efficient solution for businesses looking to establish a presence in Qatar’s payment ecosystem.
Benefits of using Akurateco solutions for local businesses
Akurateco is a white-label payment gateway provider that can help you integrate the best financial solution for your business. It offers fully customizable and brandable payment solutions for enterprises. Below are the main benefits of using Akurateco.
Expansion
Akurateco enables you to expand your business into new markets and increase your revenue by offering cutting-edge technology fine-tuned to the needs of specific niches. You can also leverage Akurateco’s cross-platform data-sharing feature to import and export data across different systems.
Customized solutions
It can also provide you with your own branded payment gateway Qatar system, customized to your specific needs and preferences. You can have full control over your financial solution, from the design and functionality to the pricing and support.
Improved conversion rate
Akurateco can help you optimize your financial performance by using smart routing and cascading features that boost your conversion rate as close to 100% as possible.
Financial analytics software
The platform can help you monitor and improve your digital operations by providing you with relevant and real-time data and reports. You can track and measure your key metrics, such as transaction volume, revenue, etc.
Popular payment methods and systems in Qatar
The country has a diverse and dynamic payment landscape, with a variety of monetary channels and systems for online transactions. Let’s take a look at the most popular Qatar payment methods.
Doha Bank
Doha Bank is a large commercial bank offering a range of banking and financial services, including online financial solutions. Doha Bank has its own financial system, called DBank Pay. Find out more about Doha Bank in our dedicated article.
GumBallPay
GumBallPay is one of the popular payment methods in Qatar that specializes in online gaming and entertainment, offering a secure way for gamers to pay for their favorite games and services. GumBallPay also offers features such as fraud prevention, currency conversion, and customer support. Check out in-depth information about GumBallPay here.
QPay
QPay is a financial solution that focuses on the SME sector, providing a simple and affordable solution for small and medium-sized companies to accept transfers. It is one of Qatar’s leading financial technology networks. Learn more about QPay in this article.
PayPal
PayPal is a global financial platform that enables online merchants and customers to send and receive transfers in a fast and secure way. PayPal supports multiple transfer methods, such as credit cards, debit cards, bank accounts, and PayPal balances. Find out more about PayPal here.
Cash on Delivery
Cash on Delivery (COD) is a financial method that allows customers to pay for their online purchases in cash when they receive their orders at their doorstep. COD is still a popular financial method in the country, especially for clients who are not comfortable with sharing their card or bank details online or who prefer to inspect their products before paying. However, COD also has some drawbacks, such as higher delivery costs, higher return rates, and higher safety concerns.
Best Payment Gateways in Qatar
With the rapid growth of web commerce and the increasing demand for secure and reliable financial solutions, many corporations are looking for the best payment gateway in Qatar to integrate into their websites and applications. There are many financial solutions available in the country.
- TESS: TESS is one of the leading payment gateway Qatar solutions, offering secure, flexible, and simplified solutions for online transfers. It supports both domestic and international transfer methods, such as Visa, Mastercard, American Express, JCB, Diners Club, UnionPay, etc. It also offers features such as multi-currency conversion, recurring transfers, refund management, and customer support. TESS is compliant with the PCI DSS standards and regional regulations. TESS is suitable for enterprises of all sizes and industries that want to accept online transfers from their customers.
- Sadad: Sadad is another prominent payment gateway in Qatar that provides point-of-sale terminal solutions for selling anywhere. It allows users to accept transfers from any card or cash at their location or online. Sadad also offers features such as inventory management, invoicing, loyalty programs, and customer feedback. Sadad is compatible with various devices, such as smartphones, tablets, laptops, and desktops. Sadad is ideal for enterprises that want to offer a seamless and convenient financial experience to their customers.
- MyFatoorah: MyFatoorah is a Qatar payment gateway that offers integrated online payment services for e-commerce businesses. MyFatoorah enables you to accept transfers from any card or cash at your website or app. MyFatoorah also provides features such as real-time reporting. MyFatoorah also provides features such as real-time reporting, dashboard, notifications, and integration with popular platforms, such as Shopify, WooCommerce, Magento, etc. MyFatoorah is certified by the PCI DSS and the regional Central Bank. MyFatoorah is perfect for corporations that want to grow their presence and sales.
- Qpay: Qpay is a company that specializes in QR code-based transfers for e-commerce businesses. Qpay allows you to accept transfers from any card or cash by scanning a QR code on your website or app. Qpay also provides features such as analytics. Qpay also provides features such as analytics, marketing, and loyalty programs. It does not require any card or bank details from the clients. It is suitable for corporations that want to leverage the power of QR codes and mobile transfers.
- Noqoody: Noqoody is a company that offers online banking solutions for e-commerce businesses. Noqoody allows you to accept transfers from any card or cash by linking your bank account to your website or app. Moreover, Noqoody provides features such as instant transfers, low fees, and enhanced security. It is simple and easy to use, as it does not require any registration or installation from the customers.
- Fatora: Fatora is an international company that offers payment gateway services in Qatar for e-commerce businesses. Fatora supports over 100 countries and 40 currencies for online transactions. Fatora also provides features such as fraud detection. It also provides features such as fraud detection, dispute resolution, and customer support. It can handle high volumes of transactions and traffic.
How can Akurateco help you with payment gateway integration in Qatar?
Akurateco allows a seamless connection to countless payment methods and gateways in one single integration. Any merchant can check out the benefits of white-label payment gateway with Akurateco’s flexible platform. Choose a financial solution that suits your company, and Akurateco handles the rest efficiently.
FAQ
Which payment gateway is best in Qatar?
Various payment gateways in Qatar are worth considering. However, identifying the optimal payment gateway for your company requires careful consideration of your unique requirements. Additionally, you may want to consider opting for a white-label payment gateway solution over a conventional one, as it can offer greater cost-effectiveness, innovation, and flexibility.
Does Akurateco support local payment methods in Qatar?
Yes. Akurateco supports over 330 payment methods globally, including multiple payment methods in Qatar, such as MyFatoorah, Tap Payments, and others. It’s worth noting that Akurateco can also develop an integration at your request, as our developers’ team has a lot of experience and expertise in integrating with various payment gateways in Qatar. Akurateco can help you choose the best methods for your business based on your industry and target market. For more information about specific payment integrations, fill out the contact form at the top of the page.
How long does it take to integrate a payment gateway in Qatar?
The time it takes to integrate a payment gateway in Qatar depends on various factors, such as the financial system itself, the technical requirements, the documentation, and the support. However, if you use Akurateco’s solution, you can save a lot of time and effort, as Akurateco provides you with a single and simple integration that allows you to access multiple financial solutions with one API. You can also benefit from Akurateco’s expertise and technology, such as fraud prevention, risk management, and compliance.
Does Akurateco ensure compliance with local and international regulatory standards in Qatar?
For hassle-free payment gateway integration in Qatar, Akurateco ensures compliance with local and international regulatory standards, such as Payment Card Industry Data Security Standards (PCI DSS) and Qatar Central Bank (QCB). Akurateco also ensures the security and privacy of your and your customers’ data by using advanced encryption, authentication, and authorization techniques, such as Secure Sockets Layer (SSL), 3D Secure, and tokenization.
Can Akurateco provide customized payment solutions for businesses in Qatar?
Akurateco is well-equipped to deliver customized financial solutions that cater specifically to the unique needs of enterprises operating in the region. The company’s commitment to flexibility and adaptability ensures that your individual requirements are taken into account, providing a bespoke approach to address the distinct challenges and preferences of your enterprise. Whether you are looking for specialized features, industry-specific integrations, or personalized configurations, Akurateco has the capability to craft solutions that seamlessly align with your objectives. With a focus on client-centricity, Akurateco strives to offer not just a one-size-fits-all solution but a tailored user experience that enhances the efficiency and effectiveness of your financial processes in the market.
What analytics and reporting tools does Akurateco offer for its Qatari clients?
Akurateco offers analytics software that can help you monitor and improve your digital operations by providing you with real-time data and reports. You can track and measure your key metrics, such as transaction volume, revenue, conversion rate, decline rate, chargeback rate, and refund rate. You can also identify and resolve any transfer issues, such as errors, fraud, or disputes. You can also customize your reports and dashboards and export your data in various formats, such as CSV, PDF, or Excel.
