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28-08-22

CWallet approved into Qatar Central Bank’s Sandbox plan

(MENAFN) CWallet Facilities has been approved into Qatar Central Bank (QCB)’s Sandbox Program, permitting the award-winning Fintech startup to test its abilities to release mobile phone wallets to customers as well as merchants throughout a six-month trial environment.

It is going to also permit CWallet users to pay bills, recharge, as well as conduct QR code payments to merchants and perform cross border money transactions via its CWallet Mobile Money App.

“This is yet another great vote of confidence in our institution and adds to the support demonstrated by our total fund raising of over QR5m via bootstrap, grants and angel investment,” as mentioned by CWallet chief executive Michael Javier.

He also stated that “It also boosts our strategic business partnership portfolio adding Qatar Central Bank and the premiere Al Dar Exchange brand. These partnerships help to propel us on our mission to become the most multifunctional, and innovative wallet-as-a-service provider within Qatar and the region, and expand the mission to deliver beyond the digital wallet landscape.”

Dr. Abdulmohsin Abdulla Alyafei, COO & Co-Founder of CWallet remarked that “As a Fintech startup, we strive to offer a significant opportunity to drive Qatar’s economic diversification, one of the four pillars of Qatar’s National Vision 2030. We will endeavour to introduce to the market our best advanced innovative solution, CWallet Mobile Money which will enable our customers to experience an entirely new concept.”

“It will be the talk of the town and will be the ultimate solution for almost everybody. I am really proud of our team that has worked very hard for this achievement. I am confident that this hardworking team will produce more successful accomplishments going forward,” he added.

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