Latest news with #MalakElBaba
Zawya
09-03-2025
- Business
- Zawya
Visa launches "Tap-to-Add Card" in Egypt
Malak El Baba: "We are committed to supporting Egypt's digital payment ecosystem and ensuring customer data protection, in line with the country's efforts to achieve financial inclusion and economic growth." Tap-to-Add Card enables cardholders to seamlessly add their cards to digital wallets by simply tapping them on their mobile device Cairo – Visa (NYSE: V), the global leader in digital payments, has announced the launch of , Tap-to-Add Card, in the Egyptian market. This innovative solution aims to promote the use of digital wallets providing customers with a more secure and seamless payment experience, allowing cardholders to add their Visa contactless cards to digital wallets with a simple tap on their mobile device. Bringing enhanced security and convenience, Tap-to-Add Card eliminates the cumbersome process of manual entry, a common source of errors and a vulnerability exploited by fraudsters seeking to compromise sensitive card information. Upon tapping, a unique one-time code validated by Visa's Chip Authenticate service, ensuring secure provisioning of card credentials and offering a significantly faster and more secure alternative to traditional methods. Malak El Baba, Egypt's Country Manager and Vice President at Visa, stated"We are always keen to introduce innovative and integrated solutions that meet the evolving needs of consumers and keep pace with the rapid global transformation in digital payments. The 'Tap-to-Add Card' feature will boost customer confidence and encourage wider adoption of digital payments." She added: "Our goal is to empower individuals and businesses with cutting-edge technologies that offer both speed and security. The 'Tap-to-Add Card' feature leverages advanced technology to protect cardholder data from fraud attempts while also saving users time and effort by eliminating the need for manual card entry—delivering a faster, easier, and more secure experience. Visa takes pride in being a key player in Egypt's digital transformation journey and remains committed to supporting the country's electronic payment ecosystem, reinforcing its dedication to advancing Egypt's ambitious vision of becoming a cashless, technology-driven society." Tap to Add Card is designed to benefit all stakeholders in the payments ecosystem. Offering an experience similar to in-store payments, cardholders can enjoy a faster, more convenient, and more secure way to add cards to their digital wallets, encouraging greater adoption of digital payments. For issuers, Tap to Add Card can help reduce the risk and associated costs of provisioning fraud, simplifies the add-to-wallet process leading to fewer customer service inquiries, and improves transaction approval rates. Supporting digital wallets globally, "Tap-to-Add Card" adheres to Visa's security standards, minimizing the risk of card breaches, enhancing overall security, and reducing errors caused by manual data entry. This significantly improves the customer experience. It is worth mentioning that "Tap-to-Add Card" has gained significant popularity worldwide since its launch, proving its effectiveness in simplifying the process of adding cards to digital wallets. This further underscores Visa's commitment to delivering innovative payment solutions that meet market needs and enhance digital payment experiences. About Visa Inc. Visa (NYSE: V) is a world leader in digital payments, facilitating more than 215 billion payments transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa, and @Visacemea Media Contact: Influence Communications, Cairo, Egypt Mohamed Youssef Visa Eman ElGamal Eelgamal@ Influence Communications Osama Aboelwafa Lidia Adel Joy Adel
Zawya
27-02-2025
- Business
- Zawya
Souhoola in alignment with Egypt's Vision 2030, partners with Visa to launch a new payment card
Cairo: Souhoola, the leading consumer finance company, signed a cooperation protocol with Visa, a world leader in digital payments, to launch a new prepaid card, issued through Banque Misr. The cooperation protocol was signed by Ahmed Al Shanawany, Managing Director of Souhoola, and Malak El Baba, Vice President and Country Manager of Visa in Egypt. This action is in line with Souhoola's strategy to enhance its role in promoting financial inclusion and offering innovative solutions that contribute to the improvement of the quality of life for Egyptians. It emphasizes providing a distinguished, secure, and seamless shopping experience. This service aligns with Egypt's Vision 2030 by focusing on supporting the local economy, fostering sustainable development, and enabling various economic sectors to grow and thrive. The prepaid card lets customers transfer any credit limit from their Souhoola account to the new card, with flexible installment payment options. This service aims to meet financial needs conveniently, helping customers manage expenses efficiently and make informed financial decisions. The card will launch in 2025. Ahmed Al Shanawany, Managing Director of Souhoola, expressed his pride in collaborating with Visa to launch the new card. He said, 'This partnership reflects our continuous commitment to providing outstanding innovative and effective financial solutions that meet the diverse customer needs and contribute to enhancing their overall experience.' He added, 'At Souhoola, we are committed to offering services that align with our customers' aspirations and evolving needs by adopting the latest technologies and smart solutions. The launch of this card enhances our ability to provide greater financial flexibility to our customers, enabling them to manage their expenses and benefit from our services in a way that simplifies their daily lives and makes their experience with us more distinguished.' Malak El Baba, Vice President and Country Manager of Visa in Egypt, shared her enthusiasm about the partnership, stating, "We are delighted to collaborate with Souhoola on this innovative launch. This partnership underscores our commitment to advancing financial inclusion and providing Egyptians with cutting-edge payment solutions. By leveraging our global expertise in digital payments, we aim to deliver a secure and flexible financial tool that empowers customers to manage their finances more effectively and enhance their overall shopping experience." It is worth noting that Souhoola, a consumer finance company established in 2019, aims to provide innovative, technology-driven financial solutions that enhance financial inclusion and improve the quality of life for Egyptians. Souhoola focuses on integrating its financial and commercial expertise to develop solutions that alleviate the increasing economic challenges faced by many individuals, enabling its customers to enjoy a seamless and distinctive shopping experience. About Visa Inc.: Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at
Al-Ahram Weekly
25-02-2025
- Business
- Al-Ahram Weekly
MDP, Visa partner to propel fintech growth in Egypt - Economy
Masria Digital Payments (MDP), an e-payment solutions provider, announced Tuesday a strategic partnership with Visa, a global leader in digital payments, to enhance the fintech landscape in Egypt. This collaboration aims to empower fintech companies and non-bank financial institutions (NBFIs) nationwide, facilitate the deployment of their financial services, and foster innovation in the fast-paced Egyptian market. As per the statement, this partnership is designed to unlock economic opportunities and create a robust financial ecosystem, reinforcing the importance of financial inclusivity in the region. It also seeks to ignite a wave of fintech development. MDP boasts a comprehensive suite of payment processing capabilities and has supported over 40 fintechs in the region. Coupled with Visa's extensive global network, the partnership aims to provide fintech firms with essential tools, security, and scalability to excel in the digital payments landscape. According to the statement, both companies were committed to driving financial inclusion and transforming the Egyptian market. 'Since 2020, we've recognized the increasing demand for digital payment solutions from fintechs. This partnership with Visa marks a pivotal milestone in our journey, allowing us to enhance our solutions for the fintech industry,' said Ahmed Nafie, CEO of MDP. On her side, Malak El Baba, vice president and Egypt country manager for Visa, said: 'Our commitment to empowering fintechs in Egypt is unwavering. This partnership is set to help them launch their payment products more efficiently, ultimately delivering better services in less time.' Financial inclusion in Egypt has boomed over the past few years. According to the latest data published by the Central Bank of Egypt (CBE), the overall financial inclusion rates for citizens of 16 years and above (estimated at EGP 67.3 million) increased by 181 percent between 2016 and June 2024. The number of financially included citizens in this category rose from 17.1 million in 2016 to 48.1 million in 2024. In other words, the financial inclusion rate went up from benefitting 27.4 percent of those who are 16 and above in 2016 to 71.5 percent in June 2024. Short link:
Zawya
25-02-2025
- Business
- Zawya
Visa and MDP join forces to empower fintech growth across Egypt
Cairo, Egypt: in a strategic partnership that is set to accelerate the fintech growth in Egypt, MDP, a leading payment enabler, and Visa, a global leader in digital payments, unveiled a groundbreaking partnership designed to empower Fintechs and NBFIs throughout Egypt to seamlessly deploy their financial services and drive significant growth and innovation within the market. This partnership underscores the critical importance of fostering financial inclusivity and innovation in Egypt's rapidly evolving fintech landscape. This collaboration will transform Africa's financial landscape, unlocking economic opportunities, fostering growth, and connecting markets across the continent. By establishing a strong foundation in Egypt, it aims to spark a wave of fintech development and inspire future partnerships, envisioning a continent where innovation empowers individuals to thrive in a digital economy. MDP, with its comprehensive suite of payment processing and issuing capabilities, has a proven track record of empowering over 40 fintechs in the region. This expertise, combined with Visa's unparalleled resources and extensive global network serves as a crucial payment channel, connecting issuers with fintechs and promoting a seamless financial ecosystem, the partnership will provide fintech companies with the necessary tools, security, and scalability to thrive in the digital payments ecosystem. The collaboration between Visa & MDP not only highlights the commitment of both organizations to driving financial inclusion but also emphasizes the transformative impact this partnership will have on the Egyptian market. By leveraging their combined strengths, Visa & MDP aim to create a robust and seamless financial ecosystem that fosters innovation and growth, ultimately benefiting consumers, businesses, and the broader economy. Ahmed Nafie, CEO of MDP commented 'As we looked to the future back in 2020, we recognized the rising demand for our digital payment solutions from fintechs. Since then, MDP has successfully enabled and empowered over 40 fintechs in the region, showcasing our expertise in delivering end-to-end payment solutions. This partnership with Visa marks a significant milestone in our journey, as we will be able to further enhance our payment enabling solutions to better serve the fintech industry' Malak El Baba, Vice President and Egypt Country Manager, Visa. "As a leader in digital payments, we're committed to empowering fintechs in Egypt to achieve their full potential and drive financial inclusion. Fintechs are at the forefront of innovation in the payments ecosystem, and our partnership with MDP aims to grow the sector through enabling fintechs to seamlessly launch their payment products, allowing them to deliver better payment services in less time." This partnership between Visa & MDP is expected to transform the fintech landscape in Egypt, driving innovation, growth, and financial inclusion. -Ends- About MDP: MDP is a leading card issuer & modern payment processor. It enables businesses to roll out their financial solutions with end-to-end payment infrastructure offerings – from personalized card production to financial transaction processing and digital payment solutions. MDP has been well-positioned in the market for more than 30+ years and is acknowledged for accelerating payment experiences through a tech-driven approach. MDP embraces the global adoption of innovative, scalable, and secure emerging fintech solutions that provide seamless omni-channel customer experiences. MDP is headquartered in Cairo, Egypt, and has an extended footprint in more than 40 countries globally. About Visa: Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at About Visa, and @Visacemea MDP Nour Shaalan Senior Marketing Specialist
