(MENAFN) CWallet Facilities has been approved in the Sandbox program of Qatar Central Bank (QCB), allowing the award-winning fintech start-up to test its abilities to release mobile phone wallets for customers as well as merchants throughout of a six-month trial environment.

It will also allow CWallet users to pay bills, top up, as well as make QR code payments to merchants and conduct cross-border money transactions through its CWallet Mobile Money app.

“This is another great vote of confidence in our institution and adds to the support demonstrated by our total fundraising of over QR 5 million through bootstraps, grants and angel investments,” as the mentioned CWallet CEO Michael Javier.

He also said, “It also strengthens our portfolio of strategic business partnerships by adding Qatar Central Bank and the premier Al Dar Exchange brand. These partnerships help propel us in our mission to become the most multifunctional and innovative wallet-as-a-service provider in Qatar and the region, and expand the mission to go beyond the digital wallet landscape. .

Dr. Abdulmohsin Abdulla Alyafei, COO and Co-Founder of CWallet, said: “As a Fintech startup, we strive to provide a meaningful opportunity to drive Qatar’s economic diversification, one of the four pillars of the Vision national 2030 of Qatar. We will strive to introduce our most advanced innovative solution, CWallet Mobile Money, to the market which will allow our customers to experience an entirely new concept.

“It will be the talk of the town and it will be the ultimate solution for almost everyone. I am really proud of our team who worked very hard for this achievement. I am confident that this hardworking team will produce more successful achievements in the future,” he added.

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