NymCard, the UAE-based leading embedded finance services provider, has entered into a strategic partnership with CWallet, an award-winning fintech startup with a Payment Service Provider (PSP) licensed from the Qatar Central Bank, in order to issue prepaid cards in Qatar.
Through this collaboration, NymCard will provide technology and services to issue CWallet-branded prepaid cards for CWallet’s customers in Qatar.
According to the statement, NymCard will enable the issuance of scheme-branded prepaid cards. The partnership aligns with NymCard’s commitment to deliver innovative payment solutions in the wider Middle East and North Africa (MENA) region.
Mr. Omar Onsi, CEO of NymCard, said that, “We are excited to partner with CWallet, a trailblazing fintech company expanding financial access in Qatar. This collaboration will allow us to deploy our proven prepaid card issuance capabilities to support CWallet’s mission to promote financial inclusion.”
CWallet provides cross-border remittance, and online or offline payment solutions to promote financial literacy and cashless transactions supporting Qatar National Vision 2030. Aligned with UN ESG Sustainable Development Goals, CWallet aims to become Qatar’s first licensed neo-bank, as per the statement.
In addition to prepaid card issuance, NymCard and CWallet will explore opportunities to collaborate on other innovative digital payment services in the future.
Mr. Michael Javier, CEO and Founder of CWallet, stated that, “NymCard’s modern card issuing processing platform makes them an ideal partner as we bring prepaid cards to our customers. These cards will help us further our goal of accessible financial services for all in Qatar.”
