OPay Egypt has announced that the Central Bank of Egypt has granted it the initial approval to issue prepaid cards through its OPay app.
The prepaid cards will be issued with cooperation with the Egyptian Cards Company, the largest card distributer in the local and regional market.
OPay Egypt, aims with this new step to provide all electronic payments solutions in the local market.
The prepaid cards will allow customers to deposit money in the cards, thereafter use it in cash withdrawals and purchases without having to open a bank account.
These cards provide OPay customers with a whole set of services that meet their financial and payment needs.
Mahmoud khedr, Director of business development and strategic partnerships for Egypt and North Africa at OPay, said “We are pleased with our cooperation with the Egyptian Cards Company to issue our prepaid cards. The new cards will provide additional paying options that will greatly contribute in our efforts to provide the best non-banking services to our customers through a smooth and easy payment system represented in the prepaid cards.”
Hesham Ezz El-Din, Digital and Cards Business line director at OPay Egypt, said that OPay’s prepaid cards will be connected with OPay’s mobile app, in order to guarantee that the service Meets the needs of the customers.
Connecting the card with the app will allow customers to request the issuance or cancellation of the prepaid card.
OPay signed a joint cooperation protocol with the Egyptian Cards Company last year to facilitate issuing banking cards.
