Egypt’s Copal and Mastercard launch family payment app

Cairo-based fintech start-up, Copal, has teamed up with global payments technology company, Mastercard, to launch Egypt’s first family payment and expenses management application. The Copal app aims to drive financial inclusion in the country by integrating underbanked youth into the formal economy and providing a cashless experience for all family members.

The app is designed to give parents and custodians control over young family members’ funds, allowing them to easily track and manage finances and ensure safekeeping of allowances. Additionally, the app comes with simplified financial education tools to support the inclusion of youth in the digitised payment ecosystem, helping them become more financially savvy.

The strategic partnership with Mastercard is expected to offer Copal custom solutions and expertise to help the start-up grow and expand in Egypt and beyond. Mastercard will also leverage its technologies to modernise and deliver innovative solutions that unlock the true potential of inclusive growth, bringing more people into the digital economy.