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Valu launches new Visa-partnered prepaid card

By Delisha Fernandes

March 21, 2024

  • Digital Payments
  • fintech MENA
  • Fintech news
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Visa, SAP

Valu, a FinTech company in MENA, has partnered with Visa, a digital payments provider, to launch a new prepaid Valu card. This move redefines payment convenience across Egypt.

The Valu prepaid card stands out with its flexibility, allowing users to effortlessly carry out transactions, whether they are making purchases or settling bills. As part of the FinTech company’s commitment to enhancing the payments ecosystem, users can conveniently transfer funds from their Valu limit to the prepaid card. In addition, the FinTech company introduced its latest breakthrough offering, ‘Spark it’, a revolutionary product that enables customers to make payments at zero cost within one month.

Walid Hassouna, CEO of Valu, said, “This launch marks a significant milestone in transforming payment convenience throughout Egypt. The introduction of the prepaid card represents more than just an expansion of services – it is a smooth entry into the larger payment sphere via transitioning from a closed-loop to an open-loop payment system. This strategic move not only empowers customers with increased flexibility at various outlets in Egypt and online but also signifies a shift towards operational efficiency for a more sustainable business model.”

Furthermore, the introduction of the prepaid card strengthened the partnership between the FinTech company and Visa after the successful launch of their co-branded card. The user-friendly nature of the Valu prepaid card extends to smart budgeting, providing features such as real-time balance tracking and transaction history directly within the app. This empowers customers to make informed financial decisions and effortlessly work towards their financial objectives.

Malak El Baba, Vice President and Egypt’s Country Manager at Visa, said, “Leveraging Visa’s cutting-edge global payment solutions, the card will enhance feasibility and convenience for Valu users, enabling them to shop seamlessly at any outlet within Visa’s expansive network. The Valu prepaid card not only introduces a new level of convenience but also embodies our shared vision to redefine customer expectations and create opportunities for improved financial accessibility in Egypt.”

Potential cardholders can conveniently obtain the card instantly at designated Valu booths, streamlining the process for immediate accessibility. The activation process is user-friendly, simply requiring customers to link the QR code found on the card’s welcome letter to the Valu app on their smartphones.

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