Egypt’s banks issue 3.2mln Meeza cards until October end

Egypt’s banking sector has issued 3.2 million Meeza cards until the end of October 2019, said Lobna Helal, deputy governor of the Central Bank of Egypt (CBE).

She also revealed that Meeza’s transactions have registered 1.5 million transaction amounted to 3.6 billion Egyptian pounds.

Meeza is the latest financial inclusion initiative by the Central Bank of Egypt (CBE) to push towards more cashless payments in Egypt. It aims at issuing 20 million Meeza cards within the next three years.

People can use the Meeza card without the need to open a bank account. Shopping online, making transfers and paying for different government and private-sector services are some of the merits granted to Meeza holders.

They  can also withdraw cash from ATMs, pay government bills, and buy from a wide network of merchants who have point-of-sale terminals.

Meeza provides the same services offered by Visa and MasterCard, but it can only be used locally. Its holder should also have a valid balance on the card, since it is prepaid.