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EgyptEgypt’s CF Souhoola Partners with Visa to Launch Prepaid Payment Card, Boosting Financial Inclusion
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Souhoola and Visa signed a cooperation protocol to launch a new prepaid card.
Customers can transfer their credit limits from Souhoola accounts to the card.
The card offers flexible installment payment options to manage expenses effectively.
The initiative aligns with Egypt’s Vision 2030 to drive financial inclusion.
The card is set to launch in 2025, providing a secure and seamless shopping experience.
Egyptian consumer finance firm Souhoola has partnered with Visa, a global leader in digital payments, to launch a new prepaid payment card in collaboration with Banque Misr. This move is expected to accelerate Egypt’s transition toward a cashless economy while giving consumers more flexibility in managing their finances.
The partnership was officially announced through a cooperation protocol signed by Ahmed Al Shanawany, Managing Director of Souhoola, and Malak El Baba, Vice President and Country Manager of Visa in Egypt. The initiative is a key step in Souhoola’s strategy to provide innovative financial solutions that simplify transactions and improve the overall quality of life for Egyptians.
With the upcoming prepaid card, Souhoola customers will be able to transfer their available credit limit directly onto the card, allowing them to make purchases with ease. The card will also come with flexible installment payment options, ensuring users can better manage their expenses without financial strain.
Speaking about the partnership, Ahmed Al Shanawany expressed pride in collaborating with Visa, emphasizing the company’s commitment to modernizing financial services, he said.:
“This partnership reflects our continuous dedication to providing innovative financial solutions that enhance the customer experience and promote financial inclusion”
Meanwhile, Visa’s Malak El Baba highlighted the broader impact of the initiative, stating:
“We are thrilled to work with Souhoola on this launch. By leveraging Visa’s expertise in digital payments, we aim to provide a secure and flexible financial tool that helps Egyptians manage their finances effectively.”
The collaboration is in line with Egypt’s Vision 2030, a national agenda that emphasizes financial inclusion and digital transformation as key drivers of economic growth. By introducing seamless and secure payment solutions, Souhoola and Visa are contributing to a broader push for a cashless, tech-driven financial ecosystem in Egypt.
Set to launch in 2025, the new prepaid card is expected to redefine how Egyptians interact with financial services, offering them convenience, security, and greater control over their spending.
