Qatar's fintech sector growth accelerated by QNV 2030: Al-Delaimi

Doha: Qatar s fintech sector has seen remarkable growth over the past five years, driven by the government s Qatar National Vision 2030, which priorit...

Doha: Qatar’s fintech sector has seen remarkable growth over the past five years, driven by the government’s Qatar National Vision 2030, which prioritizes digitalization and a cashless economy, Mohammed Al-Delaimi, CEO and Co-Founder of PayLater, Qatar’s first fully licensed Buy Now, Pay Later (BNPL) platform has said.

“The QCB’s fintech strategy, including a five-year roadmap for innovations like blockchain, AI, and open banking, has created a fertile environment for startups like PayLater. Additionally, initiatives like the $1 billion fund announced at Web Summit 2024 and the establishment of six tech-focused funds in 2025 signal robust support for Qatar’s tech ecosystem,” Al-Delaimi noted.

He added that these elements—government vision, central bank strategy, and funding—have been critical to the success of the fintech sector in the country.

PayLater secured its license from the Qatar Central Bank (QCB) on the last day of Ramadan, marking a significant milestone for the company and the country’s financial ecosystem.

According to him, PayLater’s journey began with a clear mission: to alleviate financial stress for Qatar’s residents by offering a flexible, interest-free payment solution. The platform allows customers to split purchases into four equal installments without hidden fees, distinguishing itself from traditional credit cards and bank-offered BNPL services that often carry interest charges.