Souhoola Secures Initial Approval to Launch Reloadable Prepaid Card

Egypt-based consumer finance company Souhoola has received initial approval to issue a reloadable prepaid card in partnership with Banque Misr, Visa and payment infrastructure provider Modupay, marking a new step in the company’s expansion into digital financial services.

The card is designed for Souhoola’s existing customer base as well as new users in urban areas across Egypt. It will offer instant activation, real-time balance and transaction tracking through Souhoola’s app, Visa-enabled security features, and the ability to add funds, withdraw cash and make payments. Cardholders will also be able to access Souhoola’s instalment services, with repayment periods extending up to 60 months.

The prepaid card forms part of Souhoola’s broader digital transformation strategy, aimed at expanding access to consumer finance tools while strengthening financial inclusion. The company positions the product as combining traditional prepaid card functionality with longer-term instalment options, a feature that differentiates it from standard prepaid offerings in the local market.

The launch is supported by Banque Misr as the issuing bank, Visa as the global payment network, and Modupay as the technical payment partner responsible for infrastructure and processing. The collaboration is intended to ensure wide acceptance, secure transactions and scalable deployment across Egypt.

Founded in 2019, Souhoola provides technology-driven consumer finance solutions focused on flexible payment options. Modupay, headquartered in Cairo, operates across more than 40 countries with a workforce exceeding 620 employees, and specialises in enabling digital payment systems for banks and fintech companies.

The card is expected to roll out following final regulatory approvals, adding a new prepaid and instalment-based option to Egypt’s growing digital payments landscape.