Telda issues MC card for Egyptian underbanked

The Telda prepaid card is now available to underbanked Egyptians.

The Mastercard scheme card is a collaboration between Egyptian fintech startup Telda and the county’s financial institution Banquet du Caire.

The card allows Egyptians without a bank account to issue their own Telda card via the fintech’s app.

Adam Jones, Country General Manager, MENA Central, Mastercard: “We’re very excited to see the launch of Telda’s prepaid card, powered by Mastercard, and we’re proud to be part of the innovative payment solutions brought to market through successful collaborations between fintechs and financial institutions.

“Financial inclusion is essential for the health and stability of the regional economy and has been a long-term mission for us in Egypt and the wider region. In providing a complete card payment experience, this launch will be another major step forward for those who currently do not have access to mainstream financial services.”