Ahmed El-Shennawy, CEO of Souhoola Consumer Finance, shared exciting news about the company's plan to launch a new electronic payment card specifically for individuals. This move is a big part of their strategy to expand digital services and reach even more merchants. The best part? This card means customers won't need direct contracts with every single merchant or rely on specific point-of-sale (POS) machines, offering instant and super flexible financing options for everyone. El-Shennawy explained, in exclusive comments to FintechGate, that Souhoola aims to launch this new card in the second quarter of 2026, right after getting the initial green light. He mentioned that the team is currently busy building and preparing all the necessary tech infrastructure to make sure the launch goes smoothly and efficiently. He added that this new card will let customers pay for any purchase in installments, no matter if there's a prior agreement with the merchant or not. This gives users so much more flexibility to use consumer finance solutions wherever they shop. El-Shennawy also highlighted that the card empowers customers to set up installment plans directly, without the merchant even needing to be part of Souhoola's system. This is a game-changer because it will broaden where the card can be used, make financing more accessible, and significantly improve the customer experience. Plus, it's a huge step forward for digital installment solutions and really helps push Egypt towards a more cashless payment system.
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