Mastercard and Ingiz launch innovative partnership to boost financial literacy and inclusion among Egypt’s youth

Mastercard and Ingiz launch innovative partnership to boost financial literacy and inclusion among Egypt’s youth

- Mastercard will supply Ingiz with compliance, security and fraud prevention tools to help navigate regulations and safeguard customers’ transactions

Cairo, Egypt: Mastercard has announced a strategic partnership with Ingiz, a family financial management start-up in Egypt supported by Masria Digital Payments, to launch a cutting-edge digital payments application designed to drive financial literacy and inclusion among Egypt’s youth. This largely untapped and underserved market segment will now have access to financial products and services, marking a significant step towards financial empowerment.

Ingiz provides prepaid cards for parents and their children, allowing them to effortlessly manage their finances. The company encourages young users to earn, save and spend money with gamified in-app features while offering parents non-invasive monitoring tools for oversight.

As part of the new collaboration, Ingiz will leverage Mastercard's industry-leading digital payment technology, and its network, experience and expertise, to enhance its suite of financial products tailored to the needs of children and youth. By introducing young people to crucial financial concepts, the two partners aspire to empower them to take control of their financial future.

Mastercard’s National Payment Index 2022 highlights that younger generations are proactively seeking out new payment methods, with 40% of Gen Z and Millennials likely to have