Telda Partners with Banque du Caire to Launch Telda Prepaid Cards, Powered by Mastercard

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.

"This launch is another step in our journey to providing innovative payment solutions as well as offering products that cater to the needs of the Egyptian unbanked community. Our Trio partnership also reinforces our expansion strategy with Mastercard towards youth by providing them an entirely new financial experience that enables them to 'Send, Spend, and Save 'money all in one application." stated Tarek Fayed, Banque du Caire's Chairman and CEO.

Mohamed Tharwat, Banque du Caire's Head of Retail Banking & Micro Finance added: "Telda users will be able to perform domestic and international transactions such as cash withdrawals, deposits, and online and in-store purchases. In addition for Telda application users accessibility to track their spendings and card control. The later comes in accordance with the guidance and in alignment with the Central Bank of Egypt's vision towards increasing the financial literacy & financial Inclusion."

"We're very excited to see the launch of Telda's prepaid card, powered by Mastercard, and we're proud to be part of the innovative payment solutions brought to market through successful collaborations between fintechs and financial institutions," said Adam Jones, Country General Manager, MENA Central, Mastercard. "Financial inclusion is essential for the health and stability of the regional economy and has been a long-term mission for us in Egypt and the wider region. In providing a complete card payment experience, this launch will be another major step forward for those who currently do not have access to mainstream financial services."

"We're thrilled to launch our innovative and easy-to-use product in the Egyptian market. We strongly believe it will bring immense value to our users, while playing a key role in advancing the country's transformation into a digital economy," said Ahmed Sabbah CEO & Co- Founder of Telda.