PayMint to launch Meeza prepaid cards with ADIB-Egypt

By Gloria Methri

FinTech PayMint has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt). The initiative supports the transition towards a cashless society, offering comprehensive digital solutions that meet customers’ needs.

The new card will allow PayMint customers to perform daily transactions such as cash withdrawals, purchases, and online shopping within Egypt. Cardholders can also monitor their usage, check their available balance, and manage their cards through the mobile application.

This initiative is part of PayMint’s strategy to expand its services in Egypt, promoting digital transactions and reducing reliance on cash to support the government’s vision for a cashless society.

Commenting on this collaboration, Mohamed Ali, CEO and Managing Director of ADIB-Egypt, said, “This partnership reflects our commitment to adopting advanced technological solutions that align with Islamic principles to empower customers and enable them to manage their finances with ease and security. PayMint’s services align with the bank’s strategy and vision to expand its banking and digital solutions.”

Mohamed Rabie, Managing Director and Founder of PayMint, added, “Through this partnership, we aim to provide an exceptional and innovative experience for our customers, complementing our range of services for individuals and businesses. The new card is targeted at individual customers, including permanent and temporary workers for companies, freelancers, and suppliers, enabling them to receive their financial dues and benefit from card services.”

Mohamed Yehia, Vice Chairman of PayMint, stated, “We are continuously diversifying our services to provide a unique experience with the highest levels of security and data confidentiality for our individual and corporate customers. Our PCI-DSS certification reinforces the trust we have built with our clients by offering fully secure services.”

Founded in 2019, PayMint has been a pioneer in FinTech services for small and medium enterprises (SMEs) in Egypt. In 2022, the company secured a seven-figure seed funding round from the AUR Fintech Fund, part of AUR Capital, to support its expansion in the SME FinTech sector.