CBE approves launch of Klivvr app, prepaid card
Updated 11/22/2022 9:21:00 AM
Arab Finance: The e-payment solutions provider Dot has obtained the Central Bank of Egypt’s (CBE) approval to launch its app and prepaid card under the brand name Klivvr, according to an emailed press release on November 22nd.
The Klivvr app allows users to issue free prepaid cards to use online and in stores and to make withdrawals from ATMs inside or outside Egypt, as well as to transfer and receive money and their prepaid accounts without the need for a bank account.
In partnership with Masria Digital Payments (MDP), Klivvr Card was launched to enable its holders the issuance of cards and transaction processing services.
The launch of fintech services comes in line with Egypt Vision 2030 that promotes digital transformation in the country.
Commenting on the launch, Chairman of Orascom Financial Holding (OFH) Onsi Sawiris said that Egyptian youth are showing signs of readiness to adopt emerging financial technology services, which paves the way for Klivvr to be a vital player across the region and the globe within the CBE’s vision of financial inclusion.
For his part, Chairman of Klivvr Nils Bachtler noted that the launch of Klivvr app and card mainly targets supporting the digital transformation of the Egyptian economy in line with the CBE’s strategy of achieving financial inclusion through the provision of quick and smart solutions for payment.
The services to be offered to customers by Klivvr are still in the testing phase, Bachtler added.
Klivvr targets young customers to promote the use of cutting-edge technological solutions, instead of the traditional account opening systems and payment transfer methods, Haitham Al-Maayergy, AAIB’s Assistant Managing Director and CEO of Group Operations and Banking transformation, said.
“This partnership is a step towards supporting financial inclusion since Klivvr targets a wide segment of society, the most important of whom are the youth looking for smart ways to control and monitor their expenses without the need to go to the bank,” the Head of Banking Services and Financial Inclusion at AAIB Dina Zakri said.
