QCB enables direct QA-RTGS access for Payment Service Providers

Doha, Qatar - The Qatar Central Bank (QCB) has opened the doors for payment service providers to gain direct access to the Real-Time Gross Settlement System (QA-RTGS), eliminating the need for intermediaries in settlement operations. This development aligns with the Third Financial Sector Strategy and is part of QCB's ongoing efforts to enhance Qatar's payment ecosystem and boost the efficiency of its financial infrastructure.

SADAD Payment Solutions and Dibsy were the first two payment service providers to join QA-RTGS, marking the initial implementation of direct access for such providers. The QCB stated that this move will reduce operational costs for payment service providers and merchants, as settlement operations can now be conducted directly. By reducing the number of parties involved in the payment cycle, the initiative aims to support faster and more efficient financial transactions.

Beyond simplifying the payment process, the initiative also strengthens QCB's direct oversight and monitoring of settlement operations. The QCB emphasized that additional payment service providers can join QA-RTGS by adhering to the applicable requirements and procedures.