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Raseedy Licensed e-wallet by the Central Bank of Egypt

Raseedy is a payments company licensed by the Central Bank of Egypt to issue and operate e-wallets. Raseedy has created an electronic open-loop wallet with simple registration procedures and an intuitive user experience to allow the unbanked (and underbanked) communities to save, pay their bills, installments, purchase online or perform money transfers, and digitally borrow against their salary. The lack of access to financial services and digital payments due to the low banking penetration has led to a reliance on cash. The difficultly of opening a bank account has restricted the savings tools available to the unbanked pushing them towards informal solutions. The rigidity of the wage schedules and lack of banking penetration is pushing employees towards informal lending, which is prohibitive and often degrading, Raseedy is offering digitized lending and wage income smoothing to all employees receiving their paycheck on our wallet.

Sectors Fintech
Location Egypt
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