Egypt fintech startup Raseedy to launch the country’s first fintech wallet


Raseedy is the first independent smart wallet in Egypt and is licensed by Egypt’s Central Bank. The company’s main goal was to offer real alternatives to a cash payment in spite of operating in a market saturated by many service providers. The smart wallet is part of a joint partnership between Mastercard and Said Bank.

Raseedy was formed in 2018 by Jacques Marco and Karl Marco, and operates as an Egyptian Joint Stock Company, launching their first independent digital wallet.

The Raseedy wallet helps all segments of the Egyptian community particularly merchants, businesses, and consumers digitize their finances through mobile apps while enjoying maximum financial security.

The Raseedy Wallet offers it’s users:

Multiple digital financial services such as money transfer, bill payments, international remittances, online card-less digital payments, distant merchant payment QR codes, and online card-less digital payments. Raseedy also offers a payroll disbursement facility dedicated to serving microfinance institutions with automated loan disbursement and collection of installments. The Raseedy Wallet is Meeza certified, to help users receive and transfer money via their digital wallets.

Several statements were issued during the launch of Raseedy, “Launching Raseedy wallet relies on a deep belief in our role to positively impact people’s lives by providing them with more accessibility to financial services. At Raseedy, we don’t see our wallet just as an innovative FINTECH service, but as an opportunity to bridge the gap between formal financial services and underserved customers, ensuring ability to control their finances easily and swiftly,” says Jacques Marco the CEO and co-founder of Raseedy.

“We value our partnership with Raseedy, as its digital wallet provides inclusive digital financial solutions for the Egyptian community towards cash-less future,” says Amr Nossair saib Bank’s Head of Retail Banking & delivery channels.

Mohamed Assem the country manager of MasterCard says, “Our partnership with Raseedy comes in line with Mastercard’s commitment to dedicate its expertise and technological solutions to support FINTECH companies, and deliver secure e-payment methods enabling all Egyptians to conveniently manage their finances.”

Raseedy Wallet facilitates flexible cash payments through 14,000 ATMs along Aman’s POS in all Egypt’s governorates.

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Egypt fintech startup Raseedy to launch the country’s first fintech wallet