In the present paper, using the technique of localization, we determine the center of the quantum Schr{o}dinger algebra $S_q$ and classify simple modules with finite-dimensional weight spaces over $S_q$, when $q$ is not a root of unity. It turns out
that there are four classes of such modules: dense $U_q(mathfrak{sl}_2)$-modules, highest weight modules, lowest weight modules, and twisted modules of highest weight modules.
