Mastercard Partners with Copal to launch Egypt’s first family payments mobile application

Mastercard Partners with Copal to launch Egypt’s first family payments mobile application

- The partnership brings Egypt one step closer towards financial inclusion through the integration of a younger underbanked consumer segment

Cairo, Egypt – Copal, Egypt’s first digital payment solutions application specifically designed for families, enters a strategic partnership with Mastercard to introduce the first family payment and expenses management application in Egypt. This seamless solution aims to further drive financial inclusion in the country through the integration of underbanked youth into the formal economy.

The introduction of Copal in the Egyptian market is designed to provide a seamless and innovative cashless experience for all family members. Backed-up by Mastercard technologies, Copal brings entire family members on a unified payment platform that is fully managed by the parents. Accordingly, parents and custodians are able to control young family members’ funds and easily track and manage their finances, in addition to ensuring safekeeping of their allowances, controlling overspending and ensuring availability of fund in case of emergencies.

The solution also comes with simplified financial education tools that support the inclusion of youth in the digitized payment ecosystem and help them become more financially savvy. Young family members will learn how to manage their money and savings as well as give back to the community.

“At Mastercard