Egyptian fintechs boost payments security with new card
Egyptian fintech companies Basata Holding for Financial Payments and Connect Money have introduced a card to improve payment security for businesses and customers.
According to Mubasher Media, the Basata Card seeks to provide flexible and secure financial solutions for both merchants and individual users, while also improving financial transaction efficiency and facilitating the transition to a cashless digital society.
The publication said the launch of Basata Card is part of Basata's ongoing strategy to expand its portfolio of digital financial solutions.
Further, the fintechs plan to add features to their services, with a focus on improving user financial experiences and furthering Egypt's digital payments ecosystem.
The card allows users to withdraw cash from any ATM in Egypt and make purchases online or in-store.
It also allows cardholders to transfer money instantly, making financial transactions more frictionless.
For ultimate protection, the card can be deactivated instantly in the event of loss or theft, protecting users' funds from unauthorised usage.
Commenting on the launch, Karim Shehata, CEO of Basata said: “The launch of Basata Card in collaboration with our strategic partner, Connect Money, marks a new milestone in our journey to bring about a transformative shift in the digital payments sector.
“By offering innovative solutions that empower both merchants and consumers, we remain committed to developing a more integrated and user-friendly payments ecosystem one that accelerates digital transformation and enhances transaction efficiency across the Egyptian market.”