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MoneyHash and Visa partner to enhance digital payment experience in the MENA region

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US-based Egyptian fintech MoneyHash has partnered with Visa to deliver secure and enhanced digital payment experiences in the MENA region.

Founded in 2020 by three co-founders: Nader Abdelrazik (Egyptian), Mustafa Eid (Egyptian), and Anisha Sekar ,the startup provides a unified checkout experience built on top of a secure Super-API that aggregates payment and fintech solutions through a single integration and a central dashboard consolidating technical infrastructure and centralizing data and operational reporting.

 Elena Panchenko, CPO of MoneyHash said, “Our collaboration with Visa marks a significant leap in our journey, It empowers our customers to enhance their payment infrastructure, ensuring secure, fast, and reliable payment experiences. This is especially crucial in today’s digital-first world, where payment security is paramount.”

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The new partnership will enable MoneyHash to access Visa’s extensive suite of digital payment solutions and leverage Visa’s global reach across the region.

Total transaction value in the Digital Payments in Egypt is projected to reach US$20.65bn in 2024 and total transaction value is expected to show an annual growth rate  of 10.56% resulting in a projected total amount of US$30.85bn by 2028.The market’s largest market is Digital Commerce with a projected total transaction value of US$16.14bn in 2024.

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According to  Leila Serhan, Senior Vice President and Group Country Manager for North Africa, Levant and Pakistan region, Visa is thrilled to work with innovative platforms like MoneyHash, which contributes to the growing move to digital by providing a simplified process. The startup aims to empower its partners with the tools and resources necessary to provide secure and seamless payment solutions.

In February, MoneyHash raised a $4.5 million Seed funding round, co-led by COTU Ventures and Sukna Ventures, with participation from RZM Investment, Dubai Future District Fund (DFDF), VentureFriends, and angel investors.

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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