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Tuesday, 8 February 2022

OFH subsidiary Klivvr to launch app + payment cards early this year

Klivvr partners with Visa to launch financial services: Orascom Financial Holding’s fintech subsidiary Klivvr has signed a partnership agreement with Visa to help launch the fintech firm’s financial services — including physical and digital payment cards, and an app — in early 2022, according to an OFH statement (pdf). In a phased plan, the two firms will first provide consumer financial services before expanding their focus to small merchants, SMEs, and startups.

What they said: ”Klivvr’s financial app, slated for launch in early 2022, is the first in a roster of upcoming digitally enabled financial products that we plan to rollout over the coming year, all as part of our strategy of capitalizing on financial markets’ growing preference and adoption of tech-driven digital solutions,” OFH CEO and Klivvr Chairman Nils Bachtler (My Morning Routine) said in the statement.

Background: The news comes after Klivvr landed an initial license from the Central Bank of Egypt to launch a mobile application and issue payment cards in partnership with Arab African International Bank.

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