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Qatar Central Bank has enabled payment service providers to open accounts with the authority and secure direct access to the Real-Time Gross Settlement System, known as QA-RTGS. This arrangement permits the providers to execute settlement operations, including merchant dues, without intermediaries, according to an announcement by the central bank. SADAD Payment Solutions and Dibsy have become the first two payment service providers to join the system under the new framework, QCB stated in a post on X. The step forms part of the Third Financial Sector Strategy and the regulator’s continued work to strengthen the national payment ecosystem.
The central bank said the direct access will reduce operational costs for payment service providers and merchants alike through streamlined settlement processes. It will also simplify the payment cycle by decreasing the number of participating parties, thereby supporting faster transaction execution and greater overall efficiency. In addition, the regulator will gain stronger direct oversight and monitoring of all settlement activities, according to QCB.
Qatar Central Bank’s website states that the QA-RTGS system was upgraded and launched in 2024 using ISO 20022 financial messaging standards to serve as the main platform for high-value interbank settlements. The platform enhances financial system resilience, improves liquidity risk management and speeds up cash flow cycles while integrating with local banks, the central securities depository and clearing systems for real-time gross finality. All licensed domestic banks currently participate directly in the system.
QCB’s decision to include payment service providers builds on the existing infrastructure that had been limited primarily to banks. A World Payments Monitor assessment found that the number of licensed fintech and payment firms in Qatar reached 15 by early 2026 under the Payment Services Regulation that took effect in 2021. The central bank continues to expand participation in core payment rails while enforcing compliance requirements across the sector.
Additional payment service providers will be permitted to join the QA-RTGS once they meet the applicable requirements and follow the established procedures, the central bank said. The initiative aligns with prior upgrades that connected the system to national clearing and securities platforms for comprehensive processing. Qatar News Agency reported that the change is intended to foster further development of the payment ecosystem as part of wider financial sector modernization.
