Mastercard & Kashat, Egyptian fintech, partner to expand financial services to Egypt’s unbanked and underbanked.

February 14, 2022

Mastercard and Egyptian fintech Kashat signed a five-year agreement to digitize the onboarding, disbursement, and collection processes for MENA’s first nano financial service provider. Through the partnership with Mastercard, Kashat will launch a suitable and secure prepaid card product to help build a lasting relationship with our users and deliver reliable, innovative financial solutions.

Through partnerships with fintech companies, Mastercard power innovation and delivers a range of experiences enabling inclusivity for all. A curated, customized portfolio of Mastercard products, spanning payments, data, security, analytics, and fraud management, empowers fintech companies to operate as a trusted player in an evolving marketplace.

With Mastercard’s tech, Kashat can issue users safe and convenient ways to withdraw cash & repay loads. The partnership emphasizes both entities’ aim to drive financial inclusion and digitize Egypt’s economy. Kashat enables the unbanked and underbanked to create and cultivate a financial identity.

Mohamed Assem, Country Manager Egypt, Mastercard, stated that the company is committed to supporting fintech and recognizes the critical role they play in complementing the efforts of the government and the Central Bank of Egypt to grow financial inclusion and a digitized economy in Egypt. He added that the new opportunity with Kashat leads to a future of more collaboration and providing access to solutions, services, and expertise to drive financial inclusion among our communities.

You May Also Like…

Dinaw Mengestu

Dinaw Mengestu

All Our Names (Knopf, 2014), How To Read the Air (Riverhead, 2010), and The Beautiful Things That Heaven Bears (Riverhead, 2010) are Dinaw Mengestu's three books, all of which were named New York Times Notable Books (Riverhead, 2007). Mengestu is an Ethiopian native...

UN Women launches its third Strategic Plan in Uganda

UN Women launches its third Strategic Plan in Uganda

UN Women is an international organization that focuses on ending violence against women and girls (VAWG) and creating Gender Equality & Women Empowerment. It collaborates with several local & international organizations and private & government sectors to...

Tsion Haileselassie – Photographer

Tsion Haileselassie – Photographer

As young professionals in the creative industry, it is usual to see people exploring their talents and their true passions through time, regardless of what they have learned in the past few years. Some people stop learning, some do it while learning and others do it...

Ethiopia releases the Online Trade Registration and Licensing System

Ethiopia releases the Online Trade Registration and Licensing System

Ethiopia’s Ministry of Trade and Regional Integration launched the Online Trade Registration and Licensing System (OTRLS) to provide several benefits, such as reducing physical registration, saving time, and avoiding confusion with its detailed information for each...