Souhoola Receives Initial Approval to Issue Its Reloadable Prepaid Card

Souhoola announced that it has received initial approval to launch its new reloadable prepaid card, in a move that reflects the confidence of regulatory authorities in Souhoola and the strength of its financial ecosystem.

This step comes as part of a strategic partnership with Banque Misr, Visa, and Modupay as a specialized technical payment partner, to provide safer, smoother, and more flexible payment solutions. The card is designed to serve Souhoola’s existing customers as well as individuals in urban areas across Egypt.

Digital Financial

Souhoola’s prepaid card represents a qualitative addition to the digital financial solutions market, aiming to reinforce Souhoola’s position as a trusted and innovative choice while combining full financial control with the flexibility of installment plans of up to 60 months.

The product revolves around the message “Your smart and secure card for easy and flexible payments,” offering users instant activation and the highest security standards powered by Visa technologies, along with full technical and operational support from Modupay to ensure operational efficiency and service continuity. The card also provides complete in-app control, allowing users to track balances and transactions in real time.

Strategic Milestone

In this context, Ahmed El-shanwany, Managing Director of Souhoola, stated: “We are pleased to announce receiving the initial approval to launch Souhoola’s prepaid card, which represents an important strategic milestone in our digital transformation journey. This step is not merely an administrative procedure, but an extension of our vision to empower individuals and enhance financial inclusion in Egypt.“

He added “At Souhoola, we believe modern financial solutions must be accessible, secure, and efficient. This card clearly embodies that concept through innovative features that grant customers full security and total control over their spending, while maintaining the unique flexibility of accessing Souhoola’s exclusive installment services that distinguish it and place it at the forefront of the Egyptian market.”

Integrated Financial Experience

For his part, Mohamed Gamal, Chief Business Officer at Souhoola, added: “This initial approval marks an important step toward expanding Souhoola’s digital presence and strengthening its reach across the country. We provide our customers with an integrated financial experience that combines superior security, wide acceptance, and high flexibility, enabling them to easily add funds, withdraw cash, and pay in installments for up to 60 months. Our cooperation with Banque Misr, Visa, and Modupay reflects our ongoing commitment to offering trusted and secure solutions that meet customer aspirations and reinforce Souhoola’s competitive position.”

Empower Fintech Companies

Additionally, Eng. Ahmed Nafea, CEO of Modupay, commented: “At Modupay, we are always proud to support and empower fintech companies seeking to expand their payment solutions in line with today’s evolving customer needs. Our partnership with Souhoola in launching this card reflects our commitment to delivering a reliable, flexible, and scalable payment infrastructure that contributes to strengthening financial inclusion and accelerating digital transformation in the Egyptian market.”

Source: Press Release