Raseedy has launched Egypt’s “first independent licensed digital wallet”, in partnership with saib Bank and Mastercard. Raseedy wallet enables all segments of the Egyptian community, including: consumers, merchants and businesses, to digitally manage their finances by using a mobile app, while enjoying optimum financial security.
Raseedy wallet provides users with multiple digital financial services, including money transfer, bill payment, and online card-less digital payment, international remittances, in-store and distant merchant payment via QR codes.
Raseedy also offers tailored solutions for company-specific payroll disbursement needs, and has a dedicated service for microfinance institutions with fully automated loans disbursement & installments collection. Raseedy wallet is Meeza certified, enabling its users to transfer and receive money through any digital wallet.
Jacques Marco, CEO & Co-founder at Raseedy, said:
“Raseedy is proud to reinforce the state’s strategy towards financial inclusion and digital transformation. Following the law for “usage of non-monetary means of payment”, Raseedy launched Egypt’s first independent digital wallet, in partnership with saib Bank and Mastercard, targeting one Million wallet users in 2021.”
He added: “Launching Raseedy wallet relies on a deep belief in our role to positively impact people’s lives by providing them with more accessibility to financial services. At Raseedy, we don’t see our wallet just as an innovative FINTECH service, but as an opportunity to bridge the gap between formal financial services and underserved customers, ensuring ability to control their finances easily and swiftly. Raseedy wallet aspires to become integrated in the Egyptians’ everyday life, as an effective and secure alternative to cash, enabling customers to easily satisfy their needs by a press of a button on their mobile screens, from female breadwinners and SMES, to CEOs.”
Amr Nossair, Head of Retail banking & delivery channels at saib Bank, commented:
“We value our partnership with Raseedy, as its digital wallet provides inclusive digital financial solutions for the Egyptian community towards cash-less future. Transformation to non-monetary economy was proven essential during Coronavirus outbreak, leading to wider dependence on e-payments to protect citizens’ safety. Moreover, Raseedy wallet contributes to financial inclusion for underserved Egyptians, enabling them to achieve financial security.”
Mohamed Assem, Country Manager at Mastercard, stated:
“We take pride in our participation in launching Egypt’s first independent digital wallet created by an Egyptian FINTECH company. Our partnership with Raseedy comes in line with Mastercard’s commitment to dedicate its expertise and technological solutions to support FINTECH companies, and deliver secure e-payment methods enabling all Egyptians to conveniently manage their finances. We also believe in the prominence of banking sector and e-payment companies joining forces to thrive with digital transformation and financial inclusion in Egypt and the Middle East.”
