OPay Was Approved by The Central Bank of Egypt to Issue Prepaid Cards to Help Digital Finance Reform in Emerging Markets

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According to a March report from Research and Markets, the world’s leading market analysis agency, the prepaid card market (value terms) in Egypt increased at a CAGR of 14.9% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 16.2%, increasing from US$2.75 billion in 2022 to reach US$5.00 billion by 2026.

OPay plans to issue 200,000 prepaid cards in the first phase to provide digital payment solutions for the local market. For example, customers can deposit funds without opening a bank account and use them for cash withdrawals and shopping payments, which helps In order to further meet the needs of OPay customers for more convenient and accessible non-bank financial services.

OPay’s partner is Masria Digital Payments(MDP), which has been established for more than 30 years. It focuses on the whole chain cycle of card production, issuance and payment processing, and is the largest card supplier in

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