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Qatar’s e-commerce sector surges with $840 million in February transactions

The volume of e-commerce transactions reached 6.02 million in February 2024.

Qatar’s e-commerce sector surges with $840 million in February transactions
[Source photo: Krishna Prasad/Fast Company Middle East]

As the number of retailers and consumers migrating to online platforms continues to rise, Qatar’s e-commerce sector experiences explosive growth.

New data from the Qatar Central Bank (QCB) paints a clear picture: Qatar’s digital economy is thriving. The latest report reveals that the value of e-commerce transactions reached a staggering $840 million in February 2024, marking a significant year-on-year increase of 29% compared to February 2023.

This surge highlights a broader trend of Qataris embracing online shopping, with the volume of e-commerce transactions rising substantially, reaching 6.02 million in February 2024.

Point-of-sale (POS) transactions also saw a healthy jump, with their value reaching $2.17 billion in February 2024, marking a 51% increase year-on-year. This growth is further supported by a rise in the number of POS devices in operation, reaching 68,963 in February 2024, compared to 49,422 just two years prior.

The QCB report highlights several factors contributing to this e-commerce boom. The COVID-19 pandemic undoubtedly accelerated the shift towards online shopping in Qatar, with many consumers now comfortable with digital payment channels. Qatar’s high internet penetration rate also plays a crucial role in facilitating online transactions.

Additionally, the launch of “Himyan,” Qatar’s first national prepaid card by QCB in 2023, has likely bolstered the growth in digital payments. This initiative aligns with QCB’s broader efforts to develop a robust electronic payment system and promote financial inclusion within Qatar.

The Innovation By Design Summit is in Doha on April 24. Attendance at the summit is by invitation only. Delegates can register here to receive their exclusive invite.

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