Hardware-free payment tools accelerate SME digital onboarding

Small and medium-sized enterprises (SMEs) in Qatar are rapidly adopting hardware-less payment platforms, reshaping the local payment landscape, according to Mohamed al-Delaimi, managing partner of SkipCash. SMEs make up 60% of SkipCash's clientele, highlighting their importance in driving economic growth. Al-Delaimi emphasized that traditional banks often overlook these smaller businesses, leaving a gap in financial services.

The company aims to bridge this gap by providing essential support to SMEs, enabling them to enter the digital payment market. Al-Delaimi explained that their solution removes operational barriers by offering hardware-less payment software, allowing merchants to start processing digital transactions within 24 hours. This approach has seen a surge in adoption, with SkipCash processing around QR200 million in monthly digital transactions, up from the 50% to 60% cash-based market in 2019.

The growth is attributed to shifting customer preferences, growing trust in contactless technologies, and the convenience of digital payment methods such as Apple Pay, Google Pay, and Samsung Pay. Al-Delaimi stressed the importance of integrating SMEs into the economic strategies and policies, recognizing their role in job creation, innovation, and competition.