In the aftermath of the epidemic in 2020, Qatar saw “exponential development” in the rate of digital projects. As a result, the country is steadily becoming an innovation powerhouse via encouraging digitalization in different fields and through various projects.
Thanks to astonishing economic growth, the government can supply several secure, efficient, and hyper-digital products to millions of inhabitants and tourists. Moreover, digital transformation in Qatar establishes limitless, accessible, and long-term economic possibilities for future generations, with the public and commercial sectors at the forefront of brilliant eCommerce and digital payment technology.
According to statistics, digital investment in the country would reach $3.2 billion by 2023. This legacy is driven by governmental solid digital strategies, considerable smartphone penetration, and a rapidly increasing youth demographic. As a result, Qatar has been hailed among the wealthiest nations in the Middle East, with a Digital infrastructure lined to reap the benefits of technology.
Digital projects that have improved Qatar’s international image
Tasmu Smart Qatar Programme
This is one of the significant digital projects announced by the Ministry of Transport and Communications (MoTC). Tasmu Smart Qatar Programme, announced in October 2020, is one recent example of the government’s commitment to digital strategy. The mission is to design a new national digital integration framework that improves digital access, skills, motivation, and credibility among the public, including those at risk of digital exclusion.
In fact, the program proves Qatar’s forward-thinking initiative to transform the country’s image and enable citizens and visitors alike with digital services today and in the future.
Qatar Open Data Portal
Additionally, a novel official data platform, known as the ‘Qatar Open Data Portal,’ was developed in 2019 to optimize publishing government statistics and data through a single national stage accessible to the public.
The portal promotes government transparency and promotes eco-political value in improving online access to public information, except for data-limited by law, legislation, guidelines, or agreement.
QNB-Simplify, a first-of-its-kind cloud-based eCommerce platform backed by Mastercard Payment Gateway Services, was introduced by QNB in 2018. This collaboration enabled businesses to develop an online store and sell their items on the internet, promoting SME growth and boosting the digital economy.
In fact, QNB-Simplify is one of the digital projects and fintech ecosystems that QNB has long pioneered.
In January 2021, QNB collaborated with Garmin and Fitbit to introduce ‘Garmin Pay’ and ‘Fitbit Pay’ for QNB clients in Qatar via its contactless payments platform, QNB Pay. The release helps customers lead a healthy life while also fostering the development of the digital payments ecosystem.
Ooredoo Money Virtual Prepaid Card and Contactless Tap & Go Mastercard
In March 2021, Ooredoo Qatar, Mastercard, and QNB unveiled the first-of-their-kind Ooredoo Money Virtual Prepaid Card and Contactless Tap & Go Mastercard cards in Qatar. The innovative products allow the instant issuing of digital cards for a simpler, convenient, and more secure online payment and the contactless checkout experience.
This is another example of long-term collaborations amongst fintech innovators that may pave the way for breakthrough digital payment projects.
Mastercard is enhancing and accelerating Qatar’s transformation to a safer, quicker, and more accessible digital economy by leveraging its experience in introducing innovative payment systems and positioning itself at the core of the design phase: providing a way for entrepreneurs to operate at home or abroad.
Finally, Qatar’s financial and economic environment present bright potential due to high private-sector collaborations and significant government efforts to accelerate digital transformation and projects. In the long term, this will contribute to the expansion of the digital economy and ensure that Qatar maintains its reputation as a leading engine for technical innovations and advancements.