Mogo Partners with MDP to Launch a New Prepaid Card Supported by MIDBANK to Advance Financial Inclusion in Egypt
Mogo has announced an expanded strategic partnership with MDP to enable the next phase of its digital growth, paving the way for the launch of a new prepaid card set to debut in the Egyptian market in the near future.
The initiative is backed directly by MIDBANK, which will provide the essential banking infrastructure required to introduce a fully integrated digital product aligned with the rapid transformation taking place across Egypt’s financial sector.
This collaboration marks a significant milestone in the expansion of digital payment services, as Mogo leverages MDP’s extensive technological capabilities in card issuance, payment systems management, and advanced infrastructure designed to power secure, fast, and efficient financial products.
MDP is recognized as one of the region’s leading card technology companies, offering solutions built on artificial intelligence, data analytics, and digital compliance tools that enhance security and deliver a seamless user experience.
The new prepaid card is expected to boost access to digital financial services, particularly for young users and individuals working in the informal sector. It will streamline payment processes, provide easy loading and usage options, and enable customers to perform digital transactions more efficiently, supporting national and banking efforts aimed at strengthening financial inclusion.
MIDBANK plays a central role in this ecosystem by offering the regulatory and banking framework that underpins the development of new, secure, and compliant financial products. Through this partnership, the bank reaffirms its commitment to expanding its presence in the fintech space and advancing digital transformation within Egypt’s electronic payments landscape.
This step signals a growing wave of competition and innovation in Egypt’s digital payments sector, driven by rising demand for cashless solutions and increasing consumer reliance on digital wallets and smart card technologies.
The partnership also exemplifies the power of integration between technology providers and banking institutions, enabling more advanced services, reducing transaction costs, and offering flexible, secure financial options suited to the daily needs of users.
Together, Mogo, MDP, and MIDBANK continue to strengthen their positions as influential players in Egypt’s digital financial transformation, reaffirming their commitment to delivering innovative solutions that support the future of payments and accelerate the market’s evolution and modernization.