Qatar launches Fawran, an instant payment system, and Apple Pay to boost its financial tech sector.

Qatar's financial technology sector is rapidly advancing with the introduction of its instant payment system, Fawran, launched in March 2024. Fawran has processed 5.5 million transactions worth QR10.1bn, with a growth rate of 28% in value and 31% in volume. The Qatar Central Bank (QCB) also introduced Apple Pay for Himyan cardholders, allowing secure in-store, in-app, and online payments. QCB aims to further expand digital payment solutions such as digital wallets and virtual cards.