Gem Space Group, a global consortium focused on developing and operating the Super App Gem Space, and C-Wallet, an award-winning Fintech startup and licensed payment service provider by Qatar Central Bank, have announced a strategic partnership. This transformative collaboration aims to deliver advanced financial services and unparalleled SuperApp innovation in Qatar.
Announced on the sidelines of Web Summit Qatar 2024, the agreement was signed by Valery Ostrikov, CEO of Gem Space, and Michael Javier, CEO of C-Wallet. The partnership, supported by the Investment Promotion Agency Qatar (Invest Qatar), represents an innovative joint venture, enabling C-Wallet to expand its customisable payment processing and e-wallet technologies integrated into Gem Space’s SuperApp.
Aligned with Qatar National Vision 2030, this partnership aims to drive digital service transformation and pave the way for a more efficient and user-centric financial ecosystem.
Integrating transformative financial solutions within the SuperApp, the collaboration will provide Qatar residents with streamlined money transfers between individuals and businesses via the C-Wallet platform. It will also offer enhanced international money remittance, leveraging Gem Space’s licenses in regions like Canada and the European Union (EU). Additionally, C-Wallet plans to issue debit and credit cards, expanding financial services within SuperApp, actively supported by Gem Space’s seamless integration.
Gem Space Valery CEO Ostrikov said: ‘We are thrilled to collaborate with C-Wallet to bring cutting-edge financial services to Qatar. We hope to redefine the country’s digital landscape with our SuperApp evolution, provide a seamless and comprehensive experience for users, and contribute to Qatar’s vision of a digitally advanced future.’
C-Wallet Michael CEO Javier said: ‘Our licensed Payment Service Provider status and Fintech expertise, combined with Gem Space’s global SuperApp capabilities, will empower users with various innovative and secure financial solutions. This partnership is a testament to our unwavering commitment to contributed to Qatar’s digital transformation, backed by the significant support of Sheikh Mansoor Bin Khalifa Al Thani. We look forward to fostering financial inclusion through our innovative endeavours.’
Gem Space’s commitment to Qatar includes a pledge of USD 2 million worth of tailored development efforts to the SuperApp solution, ensuring it caters specifically to the unique needs and requirements of the Qatari market, offering an unparalleled user experience. The alliance aspires to dominate 60% of the market share and serve as a springboard for expansion into the wider GCC region.
C Wallet Services WLL, an award-winning Fintech startup licensed by Qatar Central Bank, enables online and offline transactions, fostering financial inclusion and literacy while advancing UN ESG goals for a cashless society.
Gem Space is a SuperApp. It was created to work and solve everyday tasks: viewing content, communicating, studying and earning. Unlimited entertainment and business opportunities in one place. It can be accessed through mobile applications (Android & iOS) and the web-client.
For more information about C-Wallet Services please visit their website, or to learn more about Gem Space visit their website here.
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