Egyptian fintech company MNT-Halan has formed a partnership with Visa to expand its prepaid card offerings in Egypt, as the country pushes to increase digital payment adoption.

The collaboration aims to enhance financial inclusion in Egypt, where approximately 65% of the country's 104 million population remains unbanked. MNT-Halan, which operates a digital ecosystem serving unbanked and underbanked customers, will leverage Visa's global payments network to expand the reach of its prepaid card solutions.

Digital Payments Transformation

The partnership comes amid Egypt's broader push toward digital transformation in its financial sector. The Central Bank of Egypt has been implementing policies to encourage electronic payments and reduce reliance on cash transactions, part of the country's Financial Inclusion Strategy.

MNT-Halan, which began as a ride-hailing service before expanding into fintech, has built a comprehensive digital ecosystem that includes lending, payments, and e-commerce services. The company serves millions of customers in Egypt through its digital wallet and payment solutions.

Market Context

Egypt's payments landscape is experiencing significant changes, with several fintech companies receiving licenses to process digital government payments. The government aims to digitize more public services and payment channels to improve efficiency and reduce the informal economy.

The Egyptian fintech sector has seen substantial growth in recent years, with the number of fintech companies operating in the country increasing. The Central Bank of Egypt has been actively supporting this growth through regulatory reforms and initiatives to promote digital financial services.

This development reflects a broader trend across Africa, where partnerships between traditional payment networks and fintech companies are helping to expand financial services to previously underserved populations.