The upcoming initiative will use Money Fellows's widely used Rotating Savings and Credit Association (ROSCA) model to offer users innovative digital financial services.
The ROSCA model is a traditional financial arrangement in which a group of individuals regularly contribute a fixed amount of money. Each member takes turns receiving the collected sum, promoting community-based savings and credit access.
Once launched, the prepaid card will provide users with enhanced saving solutions, financial planning tools, and access to credit.
This collaboration builds on the successful 2021 partnership between Mastercard and Money Fellows, which focused on digitizing the ROSCA model and contributing to the growth of Egypt's digital economy.
The prepaid card, available to users aged 16 and above, will feature online and in-store purchase capabilities, easy deposits and withdrawals through ATMs, spending tracking, and access to exclusive discounts and cashback offers.
The card will also be issued free of charge during the launch phase.
Mastercard, Banque Misr, and Money Fellows aim to expand access to secure, modern financial services for youth and underserved communities across Egypt.
According to Mastercard's release, 71.5 percent of Egypt's population is now included in the formal financial system, marking significant progress in financial inclusion.
According to data from the Central Bank of Egypt in December, the number of Egyptians with transactional accounts increased by 181 percent, from 17.1 million in 2016 to 48.1 million by June 2024.
Women's inclusion, in particular, has seen notable progress. The number of women holding transactional accounts rose from 20.3 million in December 2023 to 20.8 million by June 2024, a 252 percent increase since 2016.
“This collaboration highlights our commitment to driving financial inclusion by launching the Money Fellows prepaid card, supporting Egypt's efforts to expand secure financial services, particularly for youth and underserved communities,” said Adam Jones, executive vice president and division president for West Arabia at Mastercard.

Meanwhile, Banque Misr's Deputy Chief Executive Officer Ahmed Eissa emphasized that launching the first ROSCA prepaid card will empower youth and underserved communities by providing access to secure, modern financial services. This aligns with the bank’s commitment to digital transformation and sustainable development.
Ahmed Wadi, founder and CEO of Money Fellows, said: “Launching the first ROSCA prepaid card with Mastercard and Banque Misr reflects our commitment to financial empowerment, accessibility, and convenience for users.”
This initiative highlights the joint efforts of Mastercard, Banque Misr, and Money Fellows to achieve Egypt's financial inclusion goals. The prepaid card will empower individuals and businesses with modern financial tools.
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