Mastercard powers launch of Telda’s cobranded prepaid card

Mastercard powers launch of Telda’s cobranded prepaid card

- The launch is a step towards creating a ripple-effect for providing financial access to millions of Egyptians

Cairo, Egypt – Mastercard powers the launch of Telda prepaid cards, jointly issued by one of the major banks in Egypt and a fintech. The innovative payment solution comes as part of a successful collaboration between Banque du Caire, one of the country’s leading financial institutions, and Telda, a fast-growing Egyptian fintech start-up.

With this launch, Egyptians with no bank account can issue their very own payment card from Telda, with a frictionless and seamless onboarding experience via Telda’s Mobile Application.

The announcement comes as the country pushes towards higher financial inclusion among the unbanked segments, a strategy boosted by Mastercard’s efforts to bring its world-class payments solutions to all Egyptians, particularly those in the informal economy that need it most. Egypt boasts a financial inclusion rate of 56.2% among its population of around 102 million.

The Mastercard powered card, launched by Banque du Caire and Telda, can be issued by a click of a button on the Telda mobile App, offering a more efficient banking experience for Millennials and Gen Z. The application’s simple and easy-to-use features allow customers to control their accounts and move