Telda receives final approval from CBE to launch its card and app

Telda receives final approval from CBE to launch its card and app

Telda received the final approval from The Central Bank of Egypt (CBE) to start operating its card and application in the Egyptian market in light of the CBE’s financial inclusion and digital transformation goals. The Telda app offers a wide spectrum of features including the issuance of prepaid cards powered by Mastercard for free.

The prepaid cards can be used for online, in-store payments and cash withdrawals from any ATM around the world, providing a fully integrated payment experience without the need of having a bank account.

“Telda is an entirely new financial experience that empowers the youth to indulge in using more advanced technological solutions. We aim to change the way people think and feel about money by providing a better and more ecient banking experience as an alternative to the traditional payment and transfer methods,” Ahmed Sabbah, CEO & Co-Founder of Telda, stated.

Users will also be able to send and receive money from any Telda user instantly and for free, as well as manage their accounts and spendings through the control and insights features that keep users on top of their spending habits and in full control of what their card can do.

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