Raseedy, a smart wallet, has announced the launch of Egypt’s first independent licensed digital wallet, in partnership with saib Bank and Mastercard.
The announcement came during a press conference led by CEO and Co-founder at Raseedy Jacques Marco, and Head of retail banking and delivery channels at saib Bank Amr Nossair. Raseedy wallet enables consumers to digitally manage their finances by using a mobile app, while enjoying optimum financial security.
Raseedy wallet provides users with multiple digital financial services, including money transfer, bill payment, and online card-less digital payment, international remittances, and in-store and distant merchant payment via QR codes.
Raseedy also offers tailored solutions for company-specific payroll disbursement needs, and has a dedicated service for microfinance institutions with fully automated loans disbursement and instalment collection. It is Meeza certified, enabling its users to transfer and receive money through any digital wallet.
“Raseedy is proud to reinforce the state’s strategy towards financial inclusion and digital transformation,” Marco said, “Following the law for “usage of non-monetary means of payment, Raseedy launched Egypt’s first independent digital wallet, in partnership with saib Bank and Mastercard, targeting 1 million wallet users in 2021.”
He added, “Launching Raseedy wallet relies on a deep belief in our role to positively impact people’s lives by providing them with more accessibility to financial services. At Raseedy, we don’t see our wallet just as an innovative FINTECH service, but as an opportunity to bridge the gap between formal financial services and underserved customers, ensuring ability to control their finances easily and swiftly.”
Raseedy wallet aspires to become integrated into everyday life in Egypt, as an effective and secure alternative to cash, Marco added. It also looks to enable customers to easily satisfy their needs by a press of a button on their mobile screens, from female breadwinners and small- and medium-sized enterprises (SMEs), to CEOs.
Moreover, Nossair said, “We value our partnership with Raseedy, as its digital wallet provides inclusive digital financial solutions for the Egyptian community towards cashless future.”
He added, “The transformation to a non-monetary economy was proven essential during the novel coronavirus (COVID-19) outbreak, leading to wider dependence on e-payments to protect citizens’ safety.”
He also noted that Raseedy wallet contributes to financial inclusion for underserved Egyptians, enabling them to achieve financial security.
Mohamed Assem, Country Manager at Mastercard, said, “We take pride in our participation in launching Egypt’s first independent digital wallet created by an Egyptian FINTECH company.”
“Our partnership with Raseedy comes in line with Mastercard’s commitment to dedicate its expertise and technological solutions to support FINTECH companies, and deliver secure e-payment methods enabling all Egyptians to conveniently manage their finances,” he added, “We also believe in the prominence of banking sector and e-payment companies joining forces to thrive with digital transformation and financial inclusion in Egypt and the Middle East.”
Raseedy wallet ensures flexible cash-in and cash-out via over 14,000 ATMs, along with over 70,000 Aman points of sale in all governorates of Egypt. It offers optimal financial security standards through its superior user-friendly experience and 24/7 accessibility.