PayMint, ADIB Egypt To Launch Meeza Prepaid Cards After CBE Approval

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The Central Bank of Egypt has granted approval to PayMint, in collaboration with Abu Dhabi Islamic Bank (ADIB) Egypt, to launch the prepaid “Meeza” card. This innovative financial product is designed to enhance digital payment solutions in Egypt by offering secure, convenient, and mobile-managed transactions.

A Secure and Versatile Payment Solution

The Meeza card, developed under PCI-DSS-certified security standards, aims to provide PayMint customers with a safe and efficient tool for daily financial activities. Cardholders will be able to perform various transactions, including cash withdrawals, in-store purchases, and online shopping within Egypt.

The card integrates seamlessly with a dedicated mobile application that allows users to monitor their card usage, check available balances, and manage transactions.

Expanding Access to Islamic Banking

Through its partnership with ADIB Egypt, PayMint extends its footprint into the Islamic banking sector, offering financial products that align with Islamic principles. This collaboration also enables ADIB Egypt to leverage its existing infrastructure to support the new platform.

Read: CBE Partners with Visa to Launch First Egypt Fraud Combating Forum

Mohamed Ali, CEO and Managing Director of ADIB Egypt, highlighted the bank’s dedication to implementing cutting-edge technological solutions in line with Islamic principles.

“This partnership reflects our commitment to adopting advanced technological solutions that align with Islamic principles to empower customers and enable them to manage their finances with ease and security. PayMint’s services align with the bank’s strategy and vision to expand its banking and digital solutions.”

“The new card is targeted at individual customers, including permanent and temporary workers for companies, freelancers, and suppliers, enabling them to receive their financial dues and benefit from card services.” Mohamed Rabie, MD and Founder of PayMint, added.

Supporting Egypt’s Vision for a Cashless Economy

The launch of the Meeza card aligns with the Egyptian government’s strategy to promote digital transactions and reduce reliance on cash. PayMint, founded in 2019, has been at the forefront of this transformation by offering financial services that cater to individuals and micro, small, and medium-sized enterprises (MSMEs).

These services include instant money transfers, scheduled payments, and business loans of up to EGP 3 million (approximately $60,000).