The Central Bank of Egypt has granted final approval to PayMint, an Egyptian fintech, to launch its Meeza prepaid card in collaboration with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt). This move is part of ADIB-Egypt’s efforts to enhance financial inclusion and align with the Egyptian government’s vision to promote a paperless society by working with fintech companies.
Founded in 2019, PayMint offers a range of financial services to individuals and micro, small, and medium-sized enterprises in Egypt. These services include scheduled payments, rapid money transfers, and business loans of up to EGP 3 million (around $60,000).
The newly launched Meeza prepaid card will enable users to carry out a variety of transactions, such as cash withdrawals, in-store purchases, and online shopping within Egypt. Additionally, PayMint’s mobile app will allow customers to track their spending, view their balance, and manage their cards.
According to Mohammad W. Rabie, MD and founder of PayMint, the new card is specifically aimed at individual consumers, including permanent and temporary workers, freelancers, and suppliers, offering them an efficient way to receive their payments and access a range of financial services.
