Qatar’s on a roll when it comes to the software industry. While cash transactions are at an all-time low thanks to the digital literacy of Qatar, payment gateways are indeed making their way into the market. The FinTech sector sure took advantage of the pandemic and is now one of the most valuable sectors in Qatar. Doubtful about which payment gateway would best suit your business? We’ve got your back!
Myfatoorah allows most payment methods, ranging from almost 20 various credit and debit cards to bank transfers and e-wallets as well, which can be easily integrated into your site. It also allows almost all GCC currencies. The plugin allows you to get a detailed report for every sale you close, not to mention customizable options like payment links and online stores to make it all the easier for you. Myfatoorah has excellent fraud protection as well as secure payment processing. The convenience of the consumer is key when you choose Myfatoorah. Myfatoorah charges a 2% transaction fee for KNET payments and a 3.5% fee for credit card payments. It also allows for MF invoicing and scheduling fixed payments, whatever the size of your company.
Qpay helps small and mid-sized enterprises (SMEs) integrate payment gateways as easily as possible. It involves two-factor authentication with an OTP as well as a PIN, making transactions pretty secure. An account in the Qatar National Bank (QNB) would help you get started immediately. The requirements for Qpay to work for your business are that your store must be located in Qatar and you must have QAR as the transactional currency.
Sadad has almost everything you're looking for in a payment gateway. Easy-to-create payment links allow fast and secure transactions without even having an online presence! The plugin is easy to integrate and can be set up with your business in no time. They also have multilingual and customizable payment pages to increase purchase success rates. Sadad can track your customer's payment activity on your platform, from billing to canceling.
The transaction rate is 2.5%, or 2.5 QR and 2QR for each refund. Sadad follows a freemium model, which means you can still avail of some of its facilities without paying!
Noqoody allows all kinds of payments, from card payments, mobile payments, and wallet payments to splitting bills among various bank accounts. They claim to have advanced fraud protection with customizable payment pages for your customers. Noqoody also involves tokenization, which means your sensitive data is converted into unique tokens for automated payments. Recurring payments are another thing Noqoody makes sure to take into consideration. Payment reminders are given to your customers for failed payments automatically! Noqoody also allows multiple currencies for international payments.
The transaction rates are different for each specific payment as they differ with respect to the size of your company.
Fatora is yet another payment gateway that allows both national and international transactions in your application. It works across multiple platforms, is simple to integrate, and includes features such as tokenization, recurring payments, and even installments! Fatora claims to have an AI system for payment security. Fatora also follows a freemium model with various rates in its premium tier.
In Fatora, you can set who pays the transaction fees—the customer or you. If you’re someone with multiple businesses, Fatora might be the best fit for you. Fatora allows you to manage all of your businesses from a single account.
In a nutshell
As Qatar’s digital landscape widens, so do its prospects. This means we’ll still be seeing many other players in the payment gateway industry, making it all the more competitive, not to mention the influence the FIFA World Cup 2022 had on Qatar's payments at a time when international payments were skyrocketing. Many are out there, but only a few make the cut. Which one do you think would make the cut for your business?