PayMint, a leading fintech player in the Egyptian market, has received the green light from the Central Bank of Egypt (CBE) to launch its Meeza prepaid card in collaboration with Abu Dhabi Islamic Bank—Egypt (ADIB-Egypt).
This strategic partnership aligns perfectly with ADIB-Egypt’s commitment to driving financial inclusion across the country. By teaming up with innovative fintechs like PayMint, the bank is actively contributing to Egypt’s transition towards a more digital and paperless economy, a key objective outlined by the Egyptian government and the CBE.
What does this mean for Egyptian consumers?
The Meeza prepaid card empowers individuals and businesses with a convenient and accessible payment solution. Key features and benefits include:
Empowering Businesses and Individuals
PayMint, founded in 2019, has consistently strived to provide innovative financial solutions to individuals and MSMEs in Egypt. Their existing suite of services, which includes scheduled payments, fast money transfers, and business loans up to EGP 3 million, has already made a significant impact on the market.
- Simplified Transactions: Effortlessly conduct everyday transactions, including cash withdrawals, in-store purchases, and online shopping within Egypt.
- Enhanced Financial Management: The user-friendly PayMint mobile app provides complete control over your card. Monitor spending, check your available balance, and manage your card with ease.
- Targeted Solutions: The Meeza card is specifically designed to cater to the diverse needs of various customer segments, including permanent and temporary workers, freelancers, and suppliers.
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“The new card offering is targeted at individual customers, including permanent and temporary workers for companies, freelancers, and suppliers, enabling them to receive their financial dues and benefit from card services,” says Mohammad W. Rabie, MD, and creator of PayMint.
A Focus on Security and Customer Experience
“We are continuously diversifying our services to provide a unique experience with the highest levels of security and data confidentiality for our individual and corporate customers,” stated Mohamed Yehia, Vice Chairman of PayMint. “Our PCI-DSS certification reinforces the trust we have built with our clients by offering fully secure services.”
The PayMint prepaid cards are designed to cater to the growing demand for digital financial solutions. “We trust that this card will gain significant traction among customers, especially with the increasing reliance on digital and technological solutions for daily financial transactions,” said Amr Sand, Head of Retail Banking at ADIB-Egypt.
Expanding Financial Reach and Enhancing Customer Experience
“Through our partnership with PayMint, we aim to elevate the presence of FinTech in Egypt and expand the bank’s card portfolio, providing a more seamless and flexible banking experience for customers,” explained Sherif Mounir, Head of Cards at ADIB-Egypt’s Retail Banking Division.
“The card supports daily transactions such as cash withdrawals, purchases, and online shopping within Egypt, with comprehensive control through the mobile application.”
Driving Financial Inclusion and Innovation
“We are proud to enable PayMint to launch its first prepaid cards, which enhance the flexibility of daily financial transactions within Egypt,” said Eng. Ahmed Nafea, CEO of MDP.
“This initiative is built on our advanced FinTech solutions, aligning with the nation’s direction to promote financial inclusion nationwide. This step not only enhances FinTech services but also empowers individuals to manage their finances more efficiently, contributing to their financial stability.”
Comprehensive Overview of PayMint and Meeza Card Features
PayMint Egypt is shaking up the financial landscape with its innovative offerings, such as the Paymint app, which allows seamless access to various services, including Paymint login for easy account management.
With the Paymint buy now, pay later feature, users can enjoy flexible payment solutions tailored to their needs. The platform supports convenient Paymint withdrawal options and has gained positive feedback, as reflected in Paymint reviews.
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For cardholders, the Meeza card App provides a user-friendly interface to manage the Meeza debit card and explore features like Meeza card online transactions and the Meeza Wallet.
Additionally, the Meeza card for foreigners and the Meeza Card Ahly extend the card’s usability across diverse demographics. As PayMint Egypt grows, innovative tools like Paymint Framer further enhance the financial experience for its users.
A Step Towards Financial Inclusion
The launch of the Meeza prepaid card marks a significant milestone for PayMint and a crucial step towards enhancing financial inclusion in Egypt. By providing accessible and user-friendly financial tools, PayMint and ADIB-Egypt are empowering individuals and businesses to thrive in the digital age.
This partnership not only benefits consumers but also contributes to the overall growth and development of the Egyptian economy. As the country continues its journey towards a more digitised future, initiatives like this will play a vital role in driving economic progress and creating a more inclusive financial ecosystem.