Egypt’s first-of-its-kind payment app Telda announces partnership with Mastercard, the latest move in its mission to promote the country’s digital transformation and etching Egypt towards its vision of becoming a digital economy.

The new partnership will enable Telda to issue prepaid cards for its customers and facilitate transactions through Mastercard’s payment processing services.

Telda offers its users multiple digital banking features, primarily focused on sending and receiving money. It is the first app in the Egyptian market to present a full digital card payment experience at the click of a button and without users requiring a bank account.

“We are delighted to join forces with Telda to introduce the first money app in Egypt,” said Mohamed Assem, Egypt Country Manager for Mastercard. “This milestone further promotes the digital transformation of the Egyptian economy and allows us to offer consumers a secure, convenient and seamless experience for their payment transactions from the comfort of their own homes,” continued Assem.

“We at Mastercard recognize our role and responsibility in supporting the Egyptian Government’s efforts towards an all-inclusive digital economy, and we are delighted to further advance this agenda through our partnership,” he said.