The freshly announced Meeza prepaid cards will allow users to execute everyday transactions in Egypt.

The Central Bank of Egypt has granted Egyptian fintech PayMint final approval to launch its Meeza prepaid card in collaboration with Abu Dhabi Islamic Bank - Egypt (ADIB-Egypt).

The launch expands ADIB-Egypt's efforts to promote financial inclusion "in line with the vision of the Egyptian government and the Central Bank of Egypt" by collaborating with fintech enterprises to accelerate the country's transition to a paperless society, according to the bank.

PayMint was founded in 2019 and provides 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 company loans of up to EGP 3 million, or around $60,000.

The freshly announced Meeza prepaid cards will allow users to execute everyday transactions in Egypt, including as cash withdrawals, in-store purchases, and internet shopping.

Additionally, PayMint promises that its mobile app would let customers to monitor their usage, check their available balance, and manage their cards.

“The new card offering is focused at individual consumers, including permanent and temporary workers for firms, freelancers, and suppliers, enabling them to receive their financial dues and benefit from card services," says Mohammad W. Rabie, MD and founder of PayMint.