Merchant account in Qatar
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Payment Processing in Qatar
Planning to set up an online business in Qatar but clueless about the whole operations required for activating the online buying and selling process?
Here are the complete guidelines that need to be followed to set up online transactions in Qatar:
For setting up a Merchant account in Qatar
Know the e-commerce trends in Qatar:
The growth of e-commerce business in Qatar has reached to $1.6 billion (2017). The country’s e-commerce industry is set to conquer higher growth due to major internet accessibility and various online payment modes. There has been a steady movement of e-business in travel, electronics, fashion, books, and hotels to name few.
The main factors involved in buying online include:
- Website popularity
- Various payment processing systems such as credit/debit, checks /ACH systems and POS (Point of Sales)
- Security on online transactions
In a survey conducted, it was found that merchants with ethical social background notably who do charities and are environmentally conscious are more acceptable for online business.
Some are still very skeptical about the online transactions and need a greater assurance of the security and safety of online business. In Smartphone category though there is a higher percentage of Smartphone users but only 15% are into m-commerce.
The most obvious hurdle is on the right choice of processing companies especially when there are too many in the online processing business.
An opening of a merchant account with Qatar
Online business demands an opening of a merchant account with the bank or other online processing companies with the help of their own sponsored banks accept the credit or debit card processing for online payments. Now the online business owners have to be clear about the online proceedings and the payment modes available with the merchant account providers also called acquirers.
We help you to acquire the right acquirers for your online business. We ensure all the payment methods are in place and there is an easy conversion of funds to the processing companies for boosting of online sales and online payments.
Our selection of the processing companies is based on the following parameters:
- The terms and conditions of contracts offered by the online processors
- The lowest transaction fees
- Lower conversion rates
- Payment solutions through virtual terminals for credit card processing and point of sales for real-time authorization
- The terms followed by low risk and high risk businesses
- Security on payment processing to counter the online frauds through fraud management tools
- Chargeback alerts
- References – check
Popular methods of payment
In Qatar, 54% of the population makes online payments. The accessibility of payments through credit card is 45%. However, there are an e-check /ACH payments options available online. In ACH (Automated clearing house), the funds get transferred from the buyer’s account to retailer account without any paperwork. There is a pre-written or electronic approval from the customer to process the e-check into merchant’s account. And with the help of virtual terminal, the e-check is processed as an ACH clearing and the fund gets credited to the merchant processor. This kind of payment mode saves time and money as there are no interchange change fees involved like that of in credit card processing.
QuadraPay is partner of various online payment processing companies. We evaluate the market of national and international gateway companies for processing of merchant accounts for the merchants.
Merchant and the merchant account providers can contact us to procure PCI DSS compliance certificate for adding security to the online transactions.
We also tie up with the cash lenders to support business funds to the companies having a financial crisis. The easy repayment of funds is based on very low-interest rates.