NymCard partners with CWallet

Through this strategic collaboration, NymCard intends to allow the issuance of scheme-branded prepaid cards, while also supporting its commitment to providing innovative payment solutions in the MENA region. According to NymCard’s officials, the partnership enables the company to launch its prepaid card issuance capabilities to assist CWallet’s objective of promoting financial inclusion.

As a fintech startup, CWallet’s suite of services includes cross-border remittance, as well as online and offline payment solutions that focus on promoting financial literacy and cashless transactions that support Qatar National Vision 2030. The company also aligns with UN EGS Sustainable Development Goals, intending to establish itself as one of Qatar’s first licensed neobanks. Representatives from CWallet stated that NymCard’s card issuing processing platform influenced the company’s decision regarding the partnership, as it plans to provide prepaid cards to its customers. By offering these cards, Cwallet can advance its commitment to bringing accessible financial services to all individuals in Qatar. Furthermore, as part of their collaboration, the two companies plan to explore opportunities to join forces on other digital payment services in the future.

With its solutions, NymCard supports companies in simplifying the process of launching cards, allowing them to issue Visa or Mastercard credit, charge, and prepaid cards. The company’s API enables an accelerated integration of card issuing capabilities into enterprises’ products, without requiring complex development work. Furthermore, NymCard’s platform supports the customisation of the design and branding of payment cards, while also offering two types of cards, including prepaid and credit. The company’s suite of services focuses on allowing clients to issue cards, onboarding customers, eliminate fraud, verify transactions, and resolve disputes.

Additionally, NymCard enables businesses to develop single-use or multi-use cards following specific use cases, providing control over payments and simplifying workflows. Enterprises also receive the option of tokenising their prepaid cards to maintain security and offer convenience to customers. The company’s modular offering allows clients to select features and services to develop a tailored solution that meets their needs and requirements. With its monitoring features, the platform provides real-time access to data, enabling clients to manage their card programme more efficiently by having access to transaction information and account activity.

Being licensed by the Qatar Central Bank, Cwallet enables users to conduct online and offline transactions. In recent months, the company entered multiple collaborations to advance its development strategy. At the end of November 2023, BKN301 partnered with Cwallet to develop digital payments in Qatar and MENA regions. Through this collaboration, BKN301 intended to provide Cwallet with a platform that can enhance the overall experience of its customers and increase security, while meeting the requirements and demands of partners and clients.