New fintech Z-Walet plans Egyptian launch targeting Gen Z
Egyptian start-up Z-Walet is planning to launch a prepaid card and app for young people aged six to 18.
Targeting Generation Z and below, the fintech says it can offer a personalised Vids card with no fees or interest, and a credit-building option for young users.
Users of “any age” can open an account on the platform, according to its website, with sponsorship from a parent or guardian.
Z-Walet is targeting both individual users and large-scale deployment at schools and colleges. Its pricing plans for the latter include up to 7,000 students for £280 a year.
It plans to integrate its app and card with school ID systems, allowing students to tap into their schools for attendance, and spend at approved locations.
Parents of account holders gain access to instant notification of expenses, and in the case of the education package, notification their child has arrived at school.
Founded in 2020, the firm is based in Maadi in Cairo.