PayMint Launches Egypt’s First Prepaid Meeza Card in Partnership with ADIB – Egypt
- PayMint has received approval from the Central Bank of Egypt to launch the first prepaid “Meeza” card.
- The collaboration with Abu Dhabi Islamic Bank (ADIB) Egypt aims to support digital transformation and promote financial inclusion.
- The card offers services such as cash withdrawals, and in-store and online purchases, with full management capabilities via a mobile app.
PayMint, a fintech company, announced it has received final approval from the Central Bank of Egypt to launch the first prepaid “Meeza” card in collaboration with Abu Dhabi Islamic Bank (ADIB) – Egypt. This milestone reflects the company’s commitment to expanding its services and enhancing financial inclusion, aligning with the country’s and the Central Bank’s vision for a cashless society.
Features of the New Card
The new card offers a comprehensive range of financial services designed to enhance user experience, including:
- Cash withdrawals: Easy access to funds through ATMs.
- Purchases: Support for in-store transactions within Egypt.
- Online shopping: Secure online payment capabilities.
- Card management via the app: Users can monitor card usage, check available balance, and have full control over card settings through PayMint’s mobile app.
Expanding PayMint’s Services
This step is part of PayMint’s strategy to expand its services and solidify its position as a leading provider of fintech solutions in Egypt. Commenting on the launch, Mohamed Rabie, Managing Director of PayMint, stated:
“We take pride in our partnership with ADIB – Egypt, one of the leading banks in the Egyptian banking sector. Through this collaboration, we aim to deliver an innovative and distinguished banking experience for both individuals and businesses, facilitating access to financial services in flexible and innovative ways.”
Rabie also noted that the card targets a broad range of users, including permanent and temporary workers, as well as suppliers, enabling them to receive payments and enjoy the card’s services easily and securely.
Strengthening Partnerships and Leveraging Advanced Technologies
Mohamed Ali, CEO and Managing Director of ADIB – Egypt, emphasized the importance of the collaboration with PayMint, stating:
“We are pleased with this partnership, which reflects the bank’s commitment to providing the latest technological solutions in line with Islamic principles and regulations. We believe this new card will empower customers to manage their finances easily and securely.”
Sherif Mounir, Head of the Cards Division in ADIB – Egypt’s Retail Banking Sector, added:
“Our goal through this partnership is to strengthen the presence of fintech in Egypt and expand the bank’s card portfolio to offer a more flexible and seamless banking experience for our customers.”
Security and Innovation in Service Delivery
Mohamed Yehia, Vice Chairman of PayMint, highlighted the company’s dedication to providing the highest standards of security and data confidentiality for its customers. He noted that PayMint has obtained the PCI-DSS certification, a global standard for securing payment card data, and added:
“This certification reinforces our customers’ trust in our services and demonstrates our commitment to providing a completely secure environment for financial transactions.”
Eng. Ahmed Nafeh, CEO of MDP, commented:
“The new card is a step forward in empowering individuals to manage their financial resources with ease and efficiency. We are proud to support PayMint in this achievement, which contributes to enhancing financial inclusion and facilitating everyday transactions.”
Commitment to Financial Inclusion and Digital Transformation
In its press release, PayMint emphasized that the launch of the prepaid card aligns with its ongoing efforts to expand its services and support the state’s vision of a cashless society. The card is expected to improve access to digital financial services and encourage more individuals to adopt digital payment solutions.
This step represents a significant milestone in PayMint’s journey, showcasing its dedication to innovation and delivering advanced financial solutions that cater to the growing market needs. With strong support from ADIB – Egypt, the company looks forward to strengthening its position as a strategic partner in achieving financial inclusion and economic growth in Egypt.