Klivvr is granted final approval from the Central Bank of Egypt (CBE) to launch its widely anticipated app and pre-paid card, in line with the CBE’s strategy of financial Inclusion in Egypt.
Approval has been given by the CBE to Dot for electronic payment solutions to launch its app and prepaid card under the brand Klivvr, following the CBE’s focus on the development of the financial technology sector, and its nation-wide strategy of enhancing financial inclusion.
The launch of financial technology (fintech) services comes in line with Egypt’s 2030 vision of digital transformation, allowing all citizens to obtain financial services that suit their needs, which ultimately leads to economic growth for both individuals and the country.
Onsi Sawiris, chairman of Orascom Financial Holding (OFH), the readiness shown by the Egyptian youth to adopt emerging financial technology services gives Klivvr the opportunity to not just be a part of the CBE’s vision of financial inclusion, but also paves the way for us to compete on a regional, and global, scale.
As expressed by Nils Bachtler, Klivvr’s Chairman, expressed his happiness at obtaining the final approval from the CBE to launch the Klivvr app and card, which primarily aims to participate in promoting the digital transformation of the Egyptian economy, in line with The CBE’s strategy of achieving financial inclusion by providing quick and smart solutions for payment. Nils has also added that Klivvr’s services are still in the testing phase before being offered to customers.
Haitham Al-Maayergy, AAIB’s Assistant Managing Director and CEO of Group Operations and Banking transformation, said, “we are pleased with our distinguished partnership with the CBE and Klivvr to launch this service.” He adds that this service is one that is in line with the bank’s strategy to achieve technological development, providing banking services that suit the needs of different customers. He iterates, “we are keen to work efficiently and with agility to provide innovative solutions with appropriate alternatives, in accordance with the developments of the current banking market, and support the CBE’s strategy for financial inclusion, as well as Egypt’s 2030 vision.” Al Maayergy asserts that Klivvr is a new financial experience that targets young customers, encouraging them to use the most advanced technological solutions instead of the traditional account opening systems and payment transfer methods.
As stated by the Head of Banking Services and Financial Inclusion at AAIB, Dina Zakri: “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.” She said that this is a way to provide advanced digital payment solutions easily and safely, in order to reduce cash dealings and facilitate dealing with electronic methods provided by the bank and in support of the CBE’s digital transformation goals. This, in turn, aims to facilitate banking services and reach the largest number of customers to keep up with the developments of the Egyptian market and under the directions of the Central Bank of Egypt.
The Klivvr app provides users with many advantages, including the issuance of a free prepaid card for use online and in stores, as well as withdrawals from ATMs inside or outside Egypt. The app provides an integrated payment experience, with one tap, without the need for a bank account.
It’s worth noting that the Klivvr Card was launched in partnership with Masria Digital Payments (MDP), enabling the issuance of cards, as well as transaction processing services.
Klivvr customers will be able to transfer and receive money and control their prepaid accounts, through a money management service that allows them to view their finances easily and conveniently.
The Klivvr app targets a wide segment of society, the most important of which are young people who are looking for smart ways to control and monitor their expenses without the need to go to the bank to open a bank account
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