Souhoola Gains Approval for New Prepaid Card in Partnership with Banque Misr, Visa, and Modupay

Why It Matters

The launch positions Souhoola as a key player in Egypt’s evolving digital payments landscape, offering affordable credit to underserved consumers. It also showcases how traditional banks and global card networks can accelerate fintech growth through strategic alliances.

Key Takeaways

• Souhoola gets regulatory approval for reloadable prepaid card
• Card combines Visa security with Modupay’s tech platform
• Offers up to 60‑month installment financing on purchases
• Targets urban Egyptian consumers and existing Souhoola users
• Partnership strengthens financial inclusion and digital transformation in Egypt

Pulse Analysis

Egypt’s fintech sector is entering a rapid expansion phase, driven by a youthful, mobile‑savvy population and a government agenda that prioritises financial inclusion. In this context, Souhoola’s new prepaid card fills a market gap by delivering a low‑cost, digitally managed payment instrument that does not require a traditional bank account. By partnering with Banque Misr, the venture gains access to an extensive branch network and legacy banking expertise, while Visa supplies a globally recognised security framework that reassures both regulators and consumers.

The card’s standout proposition is its built‑in consumer‑finance engine, allowing users to convert point‑of‑sale transactions into long‑term installments of up to five years. This hybrid model blurs the line between pure payment cards and credit products, catering to a segment of Egyptians who need flexible financing but lack credit history. Modupay’s end‑to‑end technology stack handles card issuance, transaction processing, and real‑time analytics, ensuring operational resilience and a seamless user experience across the app and physical card.

Strategically, the collaboration signals a broader trend of fintechs leveraging established financial institutions and global payment brands to scale quickly. For Souhoola, the partnership not only accelerates its digital transformation roadmap but also strengthens its competitive positioning against regional rivals offering similar installment‑based solutions. As adoption grows, the card could become a catalyst for deeper penetration of digital banking services, driving higher transaction volumes, richer data insights, and ultimately, a more inclusive financial ecosystem in Egypt.