Cairo, 27th February, 2025: 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.
Visa Inc. Boilerplate:
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 Visa.com.