Tribune News Network
Doha
The Qatar Central Bank (QCB) has introduced a new feature in the Qatar Mobile Payment (QMP) system, allowing multiple digital wallets to be linked to a single mobile number. This initiative, which aligns with the objectives of the Third Financial Sector Strategy, highlights QCB’s ongoing efforts to improve mobile payment services and promote financial inclusion across the country.
With this enhancement, users can now open and operate two separate wallets using the same mobile number, even if these wallets are maintained with different payment service providers. This new level of flexibility provides users with more options and convenience when managing their mobile financial activities. Additionally, users have the ability to designate one wallet as the default account for receiving all incoming transfers, thereby streamlining the payment process and ensuring efficient transaction management.
One of the key benefits of this feature is that users can manage their wallets with ease and switch their default account at any time based on their preferences or requirements.
By enabling multiple wallets per mobile number, QCB aims to broaden access to financial services and bring more people into the formal financial system, particularly those who have been underserved or unbanked. This move reflects QCB’s commitment to creating a more inclusive and robust digital financial environment in Qatar.
Furthermore, the introduction of this feature underscores Qatar Central Bank’s strategic vision of positioning Qatar as a regional leader in fintech and digital banking services.
