Swypex has introduced Egypt’s first Approval-Based Limits Card, a breakthrough corporate card designed to give businesses real-time control over spending. This card, launched on Wednesday, requires transaction clearance before funds are issued, resembling petty cash management with automated control.
This innovation targets the widespread reliance on cash among Egyptian businesses, especially SMEs, aiming to digitise and streamline financial operations.
Real-time spending control revolutionises business finance
Unlike traditional corporate cards with fixed monthly limits, Swypex’s Approval-Based Limits Card refreshes its balance only after the finance team approves each transaction. This dynamic system prevents employees from overspending and reduces fraud risks by enforcing spending policies instantly.
“Egyptian businesses want control without friction and this card gives them exactly that,” said Swypex CEO Ahmad Mokhtar. The card acts like a rotating balance, replacing fragmented manual workflows with seamless, automated controls that enhance financial visibility and accountability.
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This product is part of Swypex’s Premium subscription, which also offers unlimited cashback, customisable spend controls, and tailored approval workflows. The platform integrates payment processing, invoice management, and corporate cards into a unified system, enabling businesses to open accounts in under three minutes. Licensed by the Central Bank of Egypt and backed by a $4 million seed round led by Accel, Swypex is positioned to become Egypt’s leading business financial platform.
Addressing Egypt’s cash-heavy business culture
Despite over 74 per cent of Egyptian adults being financially included and rising mobile wallet adoption, 94% of business payments remain cash-based. This reliance exposes companies to inefficiencies and risks. Swypex’s Approval-Based Limits Card offers a practical alternative, which is digitising expense management while retaining the flexibility of petty cash.
Co-founder and Chief Product Officer Tarek Mokhtar emphasised, “We build products that specifically cater to the needs of the local market while pushing boundaries and spearheading innovation in the region.”
By enabling finance teams to issue department-specific cards with spend limits that unlock only after approval, Swypex empowers businesses to control expenses confidently. The platform’s integration with ERP and accounting software further streamlines financial oversight, providing real-time expense tracking and reducing administrative burdens.
This launch marks a pivotal step in Egypt’s shift toward modern corporate finance, offering SMEs a tool to overcome traditional cash management challenges.
Swypex’s innovative card is a payment tool and a financial governance system designed to enhance operational efficiency and transparency in Egypt’s business sector.