Fintech Egypt News and Events|Fintech Egypt

Meeza cards, the Egyptian national payment scheme push for financial inclusion in Egypt

16 July 2019

Introduced by the Central Bank of Egypt (CBE) as its latest financial inclusion initiative to promote a cashless society, Meeza is the Egyptian national payment scheme that aims to facilitate the transition to a less cash-dependent economy in Egypt.

There are currently two types of Meeza cards that can be issued: Meeza Prepaid card and Meeza debit cards.

The prepaid cards are issued based on a simple Know your customer (KYC) requirements. and are exempted from administrative fees for a limited period. Meeza allows customers to withdraw cash as well as recharge it through ATMs, as well as enabling them to conduct purchases and e-commerce transactions on a local basis.

Meeza cards are currently rolled out through a wide network of local banks such as the National Bank of Egypt (NBE), Banque Misr, Banque du Caire, Agriculture bank of Egypt, Commercial International Bank (CIB) and Housing development bank among other banks as CBE had released licenses to 19 bank in order to issue Meeza cards.

Meeza also announced a partnership with PayFort earlier this year, where customers can use it to shop online on various partner websites affiliated with PayFort.