Qatar: 'Spendwisor' to transform the shopping world, partners with Gulf Madhyamam
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Qatar-based fintech company Spendwisor has announced a strategic partnership with Gulf Madhyamam, a leading newspaper serving the expatriate Malayali community across the Gulf region. The collaboration aims to support Spendwisor’s mission to reshape Qatar’s shopping culture by introducing new-age digital payment and credit services.
Spendwisor, which is preparing to launch the country’s first Buy Now, Pay Later (BNPL) platform, plans to enter the market within the next few months. The platform offers a seamless shopping experience by combining digital payments and credit services under one umbrella.
The startup, operating under the Qatar Central Bank (QCB) regulatory framework, has already completed several testing phases with the bank. Once it secures the final approval, Spendwisor will make its services available to customers. The platform processed over 200 transactions during testing and disbursed 500,000 Qatari Riyals in credit. Company officials expect to launch the service within two months of receiving the license.
The service will be available through an app that users can download from app stores. After completing the registration and verification process, customers can access credit limits ranging from 1,000 to 25,000 Qatari Riyals, which can be repaid in four instalments without interest or hidden fees.
Spendwisor aims to transform the way people shop by enabling live, credit-based transactions without requiring upfront payments. Users can shop at hypermarkets, e-commerce portals and other partner businesses without worrying about their account balances.
Unlike bank-issued credit cards, which often involve lengthy application processes, Spendwisor’s app allows customers to complete verification and access credit within minutes. This makes it an attractive option for consumers looking for quick and flexible shopping solutions.
Through its partnership with Gulf Madhyamam, Spendwisor aims to connect with Qatar’s large expatriate population and the wider Gulf region.
Farooq Safaruddin, Co-founder and CEO of Spendwisor said, "This partnership with Gulf Madhyamam will allow us to reach a wide audience and play a key role in our growth as a startup.
"Through this platform, we aim to drive digital transformation in Qatar’s shopping culture while improving people's quality of life by offering easy credit solutions", added Safaruddin.
As a prominent media platform for the Malayali community, Gulf Madhyamam will help the fintech company promote its services and engage with a diverse consumer base across the six Gulf countries.
