MENA Fintech Enterprise Valu Partners With Visa To Launch Its New Prepaid Valu Card Across Egypt The introduction of the Valu prepaid card allows users to conveniently transfer funds from their Valu limit to the prepaid card.
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Valu, one of the MENA's leading universal financial technology powerhouses, has partnered with Visa to launch its new prepaid Valu card across Egypt, which offers 60-month payment tenors with Visa acceptance at all outlets.
The introduction of the Valu prepaid card allows users to conveniently transfer funds from their Valu limit to the prepaid card. The user-friendly nature of the Valu prepaid card extends to smart budgeting, providing features such as real-time balance tracking and transaction history directly within the app. In addition, Valu has also introduced Spark It, a product that enables customers to make payments at zero cost within a one-month period.
"This launch marks a significant milestone in transforming payment convenience throughout Egypt," said Walid Hassouna, CEO of Valu. "The introduction of the Valu prepaid card represents more than just an expansion of services– it is a smooth entry into the larger payment sphere via transitioning from a closed-loop to an open-loop payment system. With this new offering, Valu aims to address key market challenges, streamline operational expenses, and enhance customer access to financial services. This strategic move not only empowers customers with increased flexibility at various outlets in Egypt and online but also signifies a shift towards operational efficiency for a more sustainable business model."
Malak El Baba, Vice President and Egypt's Country Manager at Visa, added, "Leveraging Visa's cutting-edge global payment solutions, the card will enhance feasibility and convenience for Valu users, enabling them to shop seamlessly at any outlet within Visa's expansive network. The Valu prepaid card not only introduces a new level of convenience but also embodies our shared vision to redefine customer expectations and create opportunities for improved financial accessibility in Egypt. Designed to provide unparalleled convenience and financial flexibility, the Valu prepaid card facilitates seamless transactions, paving the way for a more inclusive and user-friendly financial landscape in the country."
Potential cardholders can obtain the card at designated Valu booths. The activation process consists of customers linking the QR code found on the card's welcome letter to the Valu app on their smartphones.
Related: The MENA Region Is Bustling With Fintechs (And Here's How Visa Is Empowering Them)
