Al Jazeera Finance, Spendwisor Partners To Drive Digital Economy
Date
8/18/2024 4:00:23 AM
(MENAFN- The Peninsula)
The Peninsula
DOHA: Qatar is making significant strides in the digital transformation of its financial sector with the announcement of a strategic partnership between Al Jazeera Finance and Spendwisor, a leading Buy Now, Pay Later (BNPL) fintech company.
In support of the Qatar Central Bank, Spendwisor has successfully secured approval to join and test in the local sandbox environment, making it one of the first fintech companies in Qatar to offer BNPL solutions under QCB Sandbox environment. Through this strategic collaboration, Al Jazeera Finance aims to empower Spendwisor to expand its innovative services and provide flexible payment options to consumers, thereby promoting financial inclusion and driving the digital economy.
“We are excited to partner with Spendwisor, a pioneering fintech startup that is redefining how consumers manage their purchases and finances in Qatar,” said Amer Al Jaberi, CEO of Al Jazeera Finance.
“Our investment reflects our belief in Spendwisor's vision and our commitment to supporting innovative solutions that drive economic growth and financial inclusion in our community.”
Spendwisor's BNPL platform offers consumers flexible payment options, making purchases more convenient and manageable. This partnership will accelerate Spendwisor's growth and enable it to reach a wider audience with its leading services.
Mohammed Shafie, Director of Strategic Alliances at Al Jazeera Finance, stated,“The combination of rapid financial digitisation with traditional banking and finance expertise leads to the development of innovative products that cater to the needs of consumers, merchants, and finance in the commercial sector.”
Safarudheen Farook, Co-founder and CEO at Spendwisor, stated,“We are honored to receive this significant support from Al Jazeera Finance. This partnership not only validates our business model but also underscores the potential of fintech innovation in Qatar."
He added: "We look forward to working closely with Al Jazeera Finance to achieve our shared vision of transforming the financial landscape.”
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