Qatar’s award-winning FinTech startup, “C Wallet Services W.L.L.”, and Visa, a world leader in digital payments, have entered into a strategic partnership which will see the two companies work to expand their product offerings.
CWallet is a financial technology firm that develops and delivers online, mobile and point of sale solutions across Qatar and the Region, providing digital wallet, marketplace, payment gateway, and prepaid cards to banked and unbanked consumers as well as online merchants and offline merchants.
Under the agreement, CWallet will issue prepaid cards to its customers, and make available Payment Gateway for both online and offline merchants. CPay (Product of Cwallet for Acquiring Services) will be offered to CWallet’s local merchants. The move expands CWallet’s current digital wallet, marketplace, payment gateway and prepaid cards offering.
“This is a huge vote of confidence in CWallet which looks to go well beyond the concept of a digital wallet,” said Michael Javier CEO & Founder of Doha-based CWallet. “With the power of the global Visa payments brand in our payment processing portfolio we are providing an added degree of assurance to our expanding customer base, many of whom are now accessing digital payment solutions for the first time directly through the CWallet App. This helps further our aim of delivering financial inclusion and literacy in a digital and cashless society without leaving anyone behind.”
Visa will also advise CWallet on its future financial institution relationships and to support the FinTech innovators with system functionality enhancements, integration, and new market launches.
Dr. Abdulmohsin Abdulla Alyafei, COO & Co-Founder of CWallet said: “This is a very golden opportunity to partner with Visa. This strategic partnership with Visa will help us in achieving our goal to become one of the leading Fintech startups in the region. We are assured that we will have a flourish steady growth in the upcoming years. I would like to thank Visa for believing in Cwallet and looking forward to the impressive outcomes from this strategic partnership.”
“Visa is committed to extending the benefits of digital commerce and payments to more consumers and businesses. With partners like CWallet, our goal is to enable businesses to access our payment solutions and network so they can provide the innovative and secure money movement experiences more consumers seek. This partnership with CWallet is an important step towards achieving this goal,” said Alex McCrea, Vice President and Head of Digital Partnerships & Ventures in CEMEA at Visa. “We are delighted to partner with them and support their mission of promoting financial inclusion and a cashless society in Qatar and the wider region.”