QCB asks banks to reduce, standardise fees charged from small businesses

Qatar Central Bank (QCB) has directed all banks operating in the country to reduce and standardise fees charged from micro-companies and merchants distributing food commodities, and private fuel stations.In a circular published on its official Twitter account yesterday, QCB directed all banks that provide Point of Sale (POS) service to provide payment service using a QR code at merchants and to provide the necessary usage instructions in order to enable non-bank customers to pay, noting that this comes within the framework of promoting the smoothness and flexibility of payment services for users.QCB said that its directives aim to achieve Qatar National Vision 2030 by improving the effectiveness of electronic payment services in the banking sector in Qatar, and to encourage the use of electronic services, which supports the transition to a non-monetary society, supports economic integration and enhances the participation of all categories of private sector companies. (QNA)