Mastercard has joined forces with eNovate, formerly eCards and a subsidiary of eFinance Investment Group, to introduce a Card-as-a-Service (CaaS) solution to the Egyptian market. This collaboration aims to provide various entities—including banks, non-financial institutions, universities, and fintech companies—with a range of digital payment services.
The partnership will enable eNovate to leverage Mastercard’s advanced payment technology expertise, positioning the company to create ready-to-market hubs that promote the adoption of digital payments across Egypt and the wider region. The CaaS model offers a robust platform for technology infrastructure and white-label solutions, making it easier for institutions to quickly develop and launch scalable products.
The solution includes the seamless integration of prepaid cards and customizable white-label wallet solutions, allowing consumers easy access to personalized digital financial products, such as youth and family banking options.
This initiative aligns with Egypt’s Vision 2030, which aims to accelerate the country’s digital transformation and boost the growth of a digital economy.
