i2c Inc., a provider of digital payment and banking tech, announced its partnership with KARTY, a Qatar-based Fintech offering tailored digital financial solutions to the MEA region, in order to introduce a digital-first prepaid mobile wallet to the country.
Leveraging i2c’s international payments platform, Karty’s mobile wallet will offer Visa-branded digital cards, “enabling instant, cashless P2P transactions on the Visa network.” The mobile wallet will also feature data-backed financial management tools “to empower users to master budgeting while gaining transparency into their spending habits across a range of categories (groceries, transportation, health care, and more).”
KARTY is set to be regulated by Qatar Central Bank Sandbox, “once fully operational, and the company was the 2021 winner of the Qatar Science & Technology Park Accelerator (QSTP) program, among other accolades.”
Aurangzaib Khan, GM – MEA Region of i2c, stated:
“We are proud to partner with KARTY as they work to enable digital-first payments in Qatar, while also providing added transparency and insights into their cardholder’s spending behaviors. We look forward to partnering with this notable startup as they expand financial access through the region.”
Mohammed Suleiman, Co-Founder of KARTY, remarked:
“i2c’s best-in-class payments platform allowed us to design an intuitive mobile wallet that works to simplify both budgeting and spending for residents in Qatar. We chose i2c as our issuer processing partner because of their global reputation for unparalleled reliability, best-in-class security, and deep experience within the payments industry – all of which is especially important to us as a startup. We’re excited to bring our customers the modern payment solutions they want, all on a single platform through this partnership.”
In addition to the QFTH and QSTP, KARTY is supported by the Research Development Innovation Sector of Qatar Foundation, Qatar Financial Centre and Qatar Development Bank.
As noted in a release, Karty is a Fintech startup that works to streamline everyday financial experiences for their end-users by “leveraging latest technology and transaction data to provide unprecedented insights into user spending habits to deliver a bespoke financial services experience.”