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Qatar's PayLater Gets Green Light for Fintech Sandbox Trial

Qatar's PayLater Gets Green Light for Fintech Sandbox Trial

PayLater, an innovative 'buy now pay later' (BNPL) service in Qatar, has been granted a conditional license by the Qatar Central Bank to initiate a sandbox trial. This marks a significant advancement in Qatar's fintech sector, offering consumers enhanced financial flexibility with a Sharia-compliant, interest-free payment option. Consumers can make immediate purchases and spread the cost over three months without any fees, promoting responsible financial management. This regulatory approval underscores Qatar's commitment to fostering a secure and progressive fintech environment, potentially setting a precedent for similar services globally. The BNPL market is growing rapidly, with its value projected to reach $960 billion by 2026, indicating a promising future for PayLater and its users in Qatar.

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