The Central Bank of Egypt (CBE) has granted Telda the final approval to launch its prepaid card and application on the Egyptian market, in an effort to achieve the CBE’s financial inclusion and digital transformation objectives.
“We are very happy to have receive the final license from the Central Bank of Egypt to launch the Telda app and card, as we strive to participate in the country’s transformation into a digital economy and help accomplish the Central Bank’s vision to achieve financial inclusion through constantly offering smart and fast payment solutions,” CEO and Co-founder of Telda, Ahmed Sabbah, said. “Telda is an entirely new financial experience that empowers the youth to indulge into using more advanced technological solutions. We aim to change the way people think and feel about money by providing a better and more efficient banking experience as an alternative to the traditional payment and transfer methods,” Sabbah added.
A Look At What Telda Does
Founded in 2021 by Swvl’s co-founder and former CTO Ahmed Sabbah and Youssef Sholqamy, Telda provides a vast array of functions, including the free issuing of Mastercard-powered prepaid cards. The prepaid cards provide a completely integrated payment experience without the requirement for a bank account, as they may be used for online purchases, in-store purchases, and cash withdrawals from any ATM in the world. In addition, users will be able to send and receive money instantaneously and for free from any other Telda user, as well as monitor their accounts and spending through the control and insights tools that make users aware of their spending habits and in complete control of what their card can accomplish.
Telda is a financial brand designed for Millennials and Generation Z, who are actively seeking smart and simple solutions to manage and monitor their costs without visiting a bank to open an account.
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This action is in line with the nation’s aim to promote financial inclusion, allowing all citizens to access modern financial services that meet their needs and eventually resulting in sustainable economic growth for both individuals and the nation.
Telda card license Telda card license
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh