Mastercard has partnered with Money Fellows and Banque Misr to launch Egypt’s first ROSCA (Rotating Savings and Credit Association) prepaid card, aiming to enhance financial inclusion in a country where 71.5% of the population has access to formal financial services.
The new offering extends digital
financial services to users aged 16 and above, featuring online and in-store purchases, ATM access, and expense-tracking capabilities.
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The collaboration builds on Mastercard and Money Fellows’ 2021 partnership to digitize traditional money circles, with Banque Misr now joining to expand
financial accessibility, particularly for youth and underserved communities.
The program is a strategic step to modernize Egypt’s financial services sector, providing free card issuance during the launch period and advancing the country’s digital transformation goals by combining traditional savings methods with modern banking technology.