Qatari financial management app Karty set to launch in MEA region
New Qatari financial management and digital payments app Karty is set to launch in the Middle East and Africa (MEA) region.
The unified app, which leverages transaction data to provide insights into users’ spending habits, allows users to spend, save and manage their money.
Users can add their cards to the app’s card aggregator and analyse their monthly spending, assign budgets and pay friends and family instantly.
The Karty wallet is accepted worldwide and users can pay for goods with the Karty card or by using their smartphone’s contactless technology.
Karty partnered with California’s i2c Partners to create its digital-first prepaid Visa wallet.
Leveraging i2c’s global payments platform, Karty’s mobile wallet will provide Visa-branded digital cards, enabling instant, cashless P2P transactions on the Visa network.
Karty co-founder Mohammed Suleiman says i2c’s payments platform “allowed us to design an intuitive mobile wallet that works to simplify both budgeting and spending for residents in Qatar”.
Once fully operational, Karty will be regulated by the Qatar Central Bank Sandbox, a regulatory sandbox for fintechs. The firm is also backed by Qatar Fintech Hub, Qatar Financial Centre and Qatar Development Bank.