Under the agreement, MNT-Halan will issue Visa-powered prepaid cards integrated with its digital financial services platform. The company said it issued more than 1 million cards in 2025 and processed transactions totalling over EGP 40 billion across more than 10 million transactions. It plans to issue 2.5 million cards in 2026.
The partnership will enable MNT-Halan to scale card issuance and distribution on Visa’s payment infrastructure, as part of its plans to expand the use of digital payments and card-based services in Egypt and other markets.
The agreement was signed at MNT-Halan’s headquarters in Cairo by founder and CEO Mounir Nakhla and Visa’s Vice President and Egypt Country Manager Malak El Baba.
The Halan card operates as a prepaid card and provides users with instant credit limits after a digital assessment based on national ID data. The card is linked to the Halan mobile application, which offers services including bill payments, instalment options, savings products, and e-commerce transactions.
Mounir Nakhla said the partnership with Visa would support wider distribution of the Halan card and help the company expand into new markets. Malak El Baba said the agreement aligns with Visa’s efforts to support the growth of digital payments and financial inclusion in Egypt.
MNT-Halan said the move supports its broader strategy to build a scalable digital financial services platform and contributes to Egypt’s shift toward a cashless economy.
The move comes a few days after the Central Bank of Egypt (CBE) launched its contactless electronic payment services via a Software Point of Sale (SoftPOS) application for smart devices.
According to 6W Research, Egypt’s digital payments and fintech sector has continued to expand in recent years, driven by rising smartphone penetration, regulatory support for financial inclusion, and growing demand for cashless payment solutions.
Prepaid cards and mobile-based financial services have played a central role in this growth, particularly among unbanked and underbanked segments of the population. Fintech platforms offering integrated services — including payments, lending, savings, and e-commerce — have seen increased adoption as consumers seek alternatives to traditional banking channels.
The Egyptian market has also witnessed increased collaboration between fintech firms and global payment networks to scale card issuance and improve acceptance across retail and online channels. Such partnerships have enabled local players to leverage established payment infrastructure while accelerating the rollout of digital financial products.
6W Research notes that transaction volumes and card usage in Egypt have grown steadily, supported by government efforts to promote electronic payments and reduce reliance on cash. The expansion of prepaid and instant credit products is expected to continue over the medium term, as providers focus on wider geographic coverage, simplified onboarding, and faster access to credit.
Looking ahead, 6W Research expects competition in Egypt’s fintech space to intensify, with firms prioritizing scale, interoperability, and data-driven credit assessment models to capture a larger share of the country’s rapidly evolving digital payments market.
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