Careem Egypt, a ride-hailing technology platform in the Middle East, signed an agreement with Khazna, a financial Super App that offers easy-to-use, technology-driven financial services to Egypt’s underserved population. The deal will give Careem’s captains working in Egypt access to all services available on Khazna’s app through their smartphones.
The partnership agreement allows Careem Egypt captains to issue “Khazna Meeza” prepaid cards in cooperation with Abu Dhabi Islamic Bank and to link these cards to Khazna’s App, which is installed on the captain’s mobile phone.
Captains will also be able to inquire about the card balance from the application, which also can notify the Captains of the transactions made on the card, and in the case, the Captains lose their “Khazna Meeza” cards, Khazna will issue a replacement card for them.
Khazna was founded in 2020 and raised $38m in a Series A round earlier this year to replace informal cash-driven alternatives across Egypt with a digital native solution.
Earlier this year, Careem Egypt increased the cash limit for captains enabling them to pay through Fawry, Meeza, and e-wallets and bank accounts, which gives them more payment flexibility.
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