Doha, Qatar: QNB, the largest financial institution in the Middle East and Africa and “C Wallet Services W.L.L.”, Qatar’s award-winning FinTech startup, have signed an agreement that will strongly enhance the financial technology services in Qatar.
CWallet is a financial technology firm that develops and delivers online, mobile, and point-of-sale solutions across Qatar and the region, providing mobile money wallet, peer-2-peer transactions, online, offline, and on-demand payment transactions, marketplace, payment gateway, wallet-as-a-service, and prepaid cards to both consumers and merchants.
Upon the agreement, QNB will support CWallet by facilitating the settlements as per the requirements of the Qatar Central Bank.
“QNB is the bank that sees the future and CWallet is working towards the future of payment, as we always reiterate that our vision is beyond remittance and beyond digital banking. Thus, with such strategic partners, the Fintech landscape in Qatar will pave the way for more entrepreneurs and innovative solutions that will bring high in-country value to Qatar’s residents, citizens, and its governance,” said Michael Javier CEO & Founder of Doha-based CWallet.” QNB and CWallet’s collaboration will enable enormous amounts of business opportunities as Qatar aims for a cashless society and prosperous financial sector.
“This is a great partnership, and we could see big ambitions to grow our business with QNB. Our partnership with QNB will reinforce our core offerings and will further define our footprint in Fintech within Qatar and the MENA region. By partnering with QNB, we will be able to make our mission and vision possible. We would like to thank QNB for believing in CWallet and empowering us and it will surely have a positive outlook for the years ahead and soon we will be launching our new products that will enable our users in Qatar to experience the one of a kind services.” - Dr. Abdulmohsin - Co-Founder CWallet and Vice Chairman.
Commenting on the partnership, Adel Ali Al-Malki, Senior Executive Vice President - Group Retail Banking, QNB said “QNB always encourages innovation when it comes to enhancing the financial services that provide seamless and easier payment solutions. The bank’s vision is to support the future of payments to be less reliable on cash.”
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