ouhoola, a leading consumer finance company, has signed a cooperation protocol with Visa, a global leader in digital payments, to introduce a new prepaid card. The card will be issued through Banque Misr, further enhancing digital financial services in Egypt. This initiative aligns with the nation’s Vision 2030 strategy by promoting financial inclusion and digital transformation.

Key Figures and Signing Ceremony

The signing ceremony was attended by Ahmed Al Shanawany, Managing Director of Souhoola, and Malak El Baba, Vice President and Country Manager of Visa in Egypt. Both executives emphasized the significance of this partnership in modernizing Egypt’s financial landscape. The launch of this prepaid card is expected to redefine consumer access to flexible and secure financial solutions.

Enhancing Consumer Financial Flexibility

This collaboration underscores Souhoola’s commitment to providing innovative financial products that improve the quality of life for Egyptians. The prepaid card will enable customers to transfer credit limits from their Souhoola accounts to the card, facilitating seamless and convenient transactions. Additionally, flexible installment payment options will allow customers to manage their expenses efficiently.

Leadership Perspectives on the Initiative

Ahmed Al Shanawany highlighted the importance of this initiative in delivering tailored financial solutions to Souhoola’s customers. He emphasized that the introduction of the prepaid card aligns with the company’s strategic vision of integrating smart financial services with evolving consumer needs. By leveraging technology, Souhoola aims to enhance its customers’ financial flexibility while ensuring a secure and convenient user experience.

Visa’s Role in Promoting Financial Inclusion

Malak El Baba expressed Visa’s enthusiasm for collaborating with Souhoola on this project, reinforcing Visa’s dedication to advancing financial inclusion in Egypt. She stated that the prepaid card will serve as a crucial tool in empowering consumers by offering secure and adaptable payment solutions. The partnership reflects Visa’s global expertise in digital transactions, further supporting Egypt’s transition towards a cashless economy.

Souhoola’s Commitment to Digital Finance

Souhoola, established in 2019, continues to focus on delivering technology-driven financial solutions tailored to the local market. The company integrates financial and commercial expertise to develop products that address economic challenges and enable customers to navigate their financial responsibilities effectively. This latest venture with Visa solidifies Souhoola’s role in driving digital payment innovations in Egypt.

Future Impact and Economic Growth

The prepaid card is set to launch in 2025, offering users enhanced control over their finances and a superior shopping experience. With a focus on security and convenience, the card will cater to individuals seeking efficient financial management tools. As Egypt progresses towards a more digitized financial system, partnerships like this will play a vital role in shaping the country’s economic future.

The collaboration between Souhoola and Visa marks a significant milestone in Egypt’s digital finance sector. By introducing this prepaid card, both entities reaffirm their commitment to fostering financial inclusion and supporting the nation’s economic development. This initiative is expected to contribute significantly to Egypt’s Vision 2030, paving the way for greater financial empowerment among its citizens.