The decision to centralize operations in Qatar aligns with BKN301's broader strategy to penetrate high-growth markets. The MENA region, characterized by rapid demographic expansion and a burgeoning interest in digital financial services, presents significant opportunities for fintech innovation. According to a report by Statista, the total value of digital transactions in Qatar is projected to reach $5.58 billion by the end of 2022, with an anticipated compound annual growth rate of 13.4% over the next five years, culminating in $10.47 billion by 2027.
Stiven Muccioli, Founder and CEO of BKN301 Group, emphasized the importance of this development, stating, "With the opening of the new company in Doha, we lay the foundation for expansion throughout the MENA region. BKN301 Software Design WLL aims to bring new, secure, and fast digital financial instruments to high-growth countries that still suffer from a lack of innovative solutions to accompany them in this transition."
In line with its expansion efforts, BKN301 has entered into a strategic partnership with CWallet, a Qatar-based fintech startup holding a Payment Service Provider license from the Qatar Central Bank. This collaboration aims to enhance CWallet's digital payment offerings by integrating BKN301's advanced platform, thereby improving customer experience and security. Michael Javier, Founder and CEO of CWallet, remarked, "We have found in BKN301 a strategic partner able to provide what we were looking for: a cutting-edge solution that could improve the experience we offer, always guaranteeing the greatest security and ease of use on both ends, to clients and merchants."
The partnership will see the integration of BKN301's payment gateway, 301pay, into CWallet's existing infrastructure. This integration is designed to facilitate both e-commerce development and mobile payments in physical stores, providing Qatari merchants with comprehensive tools to manage transactions, monitor business performance, and offer customers seamless payment experiences through the CWallet App.
BKN301's commitment to the MENA region is further evidenced by its series of digital payment roadshows aimed at promoting financial inclusion. Following events in Qatar and Tbilisi, Georgia, the company plans to host its next roadshow in Cairo, Egypt, in 2025. These initiatives are designed to educate local stakeholders on the potential of advanced digital payment solutions tailored to diverse market needs.