Cairo - Mubasher: Mastercard joined forces with Egypt-based family financial management startup Ingiz to develop a digital payments app designed to drive financial literacy and inclusion among youth in the Arab Republic.
In line with Ingiz's growth and market expansion strategy, the partnership aims to facilitate payment processing and widen the app's reach to a diverse range of merchants and consumers.
Ingiz will deploy Mastercard's digital payment technology, network, and expertise, to improve its financial products tailored to the needs of children and youth, according to a press release.
The startup offers prepaid cards for parents and their children, which enable them to effortlessly manage their finances.
Inji Borai, Mastercard’s Country Manager for Egypt and North Africa, said: “Adoption of a greater range of digital payment methods is rising in Egypt, and we are committed to developing new technology and providing innovative solutions that will enhance the payment experience.”
“Our partnership with Ingiz will deliver a robust and intuitive family financial management app that unlocks access to secure and innovative payment options for future generations,” Borai added.
Sherif Ramadan, CEO of Ingiz, commented: "The partnership will enable us to offer an unparalleled financial education experience that prepares our youth for a brighter tomorrow.”
