A report states Libya’s ‘iCard’ aims to expand digital payments outside the banking system. An English-language news report by Senegal’s “We Are Tech Africa” website highlighted the ‘iCard’ financial solution. Al-Mazalla Financial Services, a Libyan company, innovated it. The application targets unbanked users. It provides mobile prepaid payment solutions. This allows them to access global electronic services. A bank account is not required.
Hybrid payment solutions are offered. Usage is expanding. The report clarified ‘iCard’ supports hybrid payments. This includes phone credit and partner bank cards. It also supports methods linked to international platforms. These include streaming services, games, and e-commerce sites. The application has been downloaded over 100,000 times. This reflects rapid fintech adoption.
The app is available on Android. It is also available on iOS. According to the report, the app is available for smartphones. It supports both iOS and Android systems. This aligns with a broader digital transformation in the payments sector. It aims to reduce physical card limitations. These limitations include store availability, operating hours, and loss risks.
It is a digital tool. It supports financial transformation. The report indicated ‘iCard’ is part of a larger digital transformation in financial services. It offers a tool to expand access to electronic payment methods. This is especially for groups not directly linked to traditional banking services.