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Muhammad Al-Dulaimi: ‘Skip’ Cash offers mobile payments for shoppers and merchants
Muhammad Al-Jufairi: No need for ATM withdrawals
Saeed Khalil: Electronic transactions are faster and easier
Opinions of citizens and experts are divided, some still believe that money in hand is more reliable and feels safer, others confirm that the decline of “cash” and the return of electronic transactions will soon reach the stage of abolishing ATM machines – when they are no longer needed.
Although many stores have decided and put forward the slogan of “no cash”, there are still some stores that still require customers to pay their bills with cash, sometimes using the excuse of daily need for “cash”, either to put the remaining money into the customer account or daily miscellaneous expenses.
Safe way
In this context, some citizens confirmed that mobile payment services have become one of the most popular payment tools in developed countries and developing countries that are trying to reduce their dependence on cash, as it is a safe means, and recalled the advantages of the transition to a “cashless society” in terms of strengthening public health, reducing the cost of printing money and the risk of counterfeiting by not touching money that passes through thousands of hands, reducing the chances of financial theft, reducing the cost of transporting money, and protecting society from money laundering crimes that rely heavily on “cash” and other items.
fear
Meanwhile, economic expert Sayyid Khalil said: Despite the fact that electronic facilities for direct payments through the Internet are available all over the world, and it is convenient and fast to do so, there are still two important factors and the need to continue cash transactions. First, because there are still people who are afraid of electronic payments due to the scale of fraud and electronic fraud, and secondly, because there are many sales sites in many countries in the world that only accept cash payments, so it is necessary to have cash to make purchases or cash payment processes. Pointing out that the easiest way is through ATMs located everywhere. They are available all over the world, even in the middle of the night, so I don’t think ATMs will be eliminated.
Digital Financial Services
Mohammed Al-Jufairi, for his part, pointed out that the decline in the use of cash in circulation outside banks (cash) is indicative of Qatar’s recent transformation towards a digital economy, a revival in electronic sales activities and a reduction in cash circulation.
In this context, Juffali pointed out that in recent years, with the tremendous development of the global digital technology service sector, Qatari youth have begun to launch many applications related to digital and technology services and keep pace with the times. The number of smartphone users in the local market continues to grow.
Al-Jufairi confirmed to Al-Arab that in recent times, many applications have been launched on the market that rely on credit card payments and have been able to succeed and compete in attracting a wide range of users because their owners are keen to adopt international standards in their preparation and programming, indicating that the most prominent examples in this regard include applications that meet the needs of the country’s citizens and residents, including the “Gateway” application that we have worked hard to launch to provide financial services through Qatar’s first application company “IT Company”.
He explained that the Gateway application is the first platform to implement the Islamic banking system, which provides easy and efficient payment and receivables collection solutions. He pointed out that the application helps to improve the level of online banking solutions, which are carried out in a local, fast and secure manner, with many advantages and high quality, and facilitate settlement and financial collection without any errors.
Mobile Payment
Muhammad Abdulaziz Al-Dulaimi, founder and general manager of Pro Technology, owner of the Skip Cash app, said the Skip Cash app is a mobile payment app for shoppers and merchants, launched to eliminate the need for people to go to ATMs to withdraw cash and reduce the use of paper money, credit cards and point-of-sale devices.
Al-Dulaimi added to Al-Arab that the app allows shoppers to link their credit cards to it and use the app to pay, whether it is buying a cup of coffee, hailing a taxi, having food delivered or ordering it at home. This eliminates the need to go to an ATM to withdraw cash.
Project Outcomes
Al-Dulaimi explained that the Skip Cash app helps shoppers make digital payments using barcode technology instead of cash by securely linking credit cards used in all financial transactions, tracking user spending through visual and detailed reports, organizing payment receipts, and linking virtual accounts for children and individual families, getting discount coupons, and we help merchants accept digital payments with fewer devices and lower costs.
Al-Dulaimi explained that the use of banknotes in Qatar reached 54 billion riyals in 2018 and the project was born out of the desire to raise awareness of better habits and greater comfort in spending and purchasing by providing digital tools to shoppers and customers. As we all know, Qatar hosts many sporting events and open-air activities where people can go out and enjoy them, so we seek to reduce the need for ATMs.
Cash declines
Qatar Central Bank is working to shift payment transactions from cash (paper) instruments to electronic instruments, control risks and develop a sound payment infrastructure in line with the goal of Qatar National Vision 2030, which is to build a cashless society with greater financial inclusion. In recent years, the transaction value and volume processed by the electronic check clearing system have continued to decline, indicating that the shift from paper payment instruments (cash) to electronic transactions is experiencing the expected recovery.
Law No. (4) of 2022 regulating the use of cash in transactions
Law No. (4) of 2022 regulates the use of cash in transactions, including:
Article (2)
The use of cash in transactions with a value exceeding 50,000 riyals is prohibited by decision of the Council of Ministers, but the quorum provided for in the preceding paragraph may be modified by decision of the Council of Ministers.
Article (3)
Commercial shops carrying out any transaction must keep invoices and necessary documents containing alternative payment instruments to cash and make them available to the competent authorities upon request.
Article (4)
The competent authorities and assistance professionals must verify compliance with the prohibition on the use of cash in transactions and include documentation proving payment in the contract or other documents, and must refuse to provide services if the parties to the transaction do not provide proof of payment of a payment instrument that is an alternative to cash and notify them of this.
Article (5)
Without prejudice to more severe penalties provided for by other laws, any person who handles cash in violation of the provisions of Section (2) of this Law shall be punished with a fine not exceeding thirty (30) percent of the amount paid in cash.
If the transaction amount is intentionally divided or an amount lower than the actual value is stipulated in order to circumvent the prohibited acts stipulated in Article 2 of this Law, the penalty stipulated in the preceding paragraph shall be doubled.
Article (6)
Without prejudice to more severe penalties provided for in other laws, anyone who violates the provisions of Article (3) of this Law shall be punished with a fine not exceeding SAR 1 million.
Article (7)
Those who meet the requirements of this Law shall adjust their situations in accordance with the provisions of this Law within six months from the date of its implementation.
The period specified in the preceding paragraph may be extended by one or more similar periods by decision of the Council of Ministers.
Article (8)
All competent authorities within their jurisdiction are required to implement this law and shall publish it in the Official Gazette.
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