• iCard enables users to access global online services without a bank account.
• Platform supports hybrid payments including airtime credit and partner bank cards.
• App surpasses 100,000 downloads as fintech adoption accelerates.

Libyan company Al-Madala Financial Services developed iCard as a fintech solution centered on prepaid cards and digital vouchers. The company launched the platform in 2017, and entrepreneur Husen Matar founded the startup in Tripoli.

The platform allows users to remotely purchase prepaid payment cards that they can use on international platforms, including streaming services, gaming platforms, and e-commerce websites.

iCard offers a mobile application available on iOS and Android, and the app has exceeded 100,000 downloads, according to Google Play Store data. The platform delivers a digital code to users, and users activate this code to complete transactions without requiring a traditional bank card.

Therefore, the solution lowers entry barriers to digital payments and broadens access to global online services.

iCard differentiates itself through flexible payment options. The platform accepts multiple payment methods, including mobile airtime credit and bank cards issued by partner institutions.

This hybrid approach allows the platform to bypass limitations in traditional financial systems. Consequently, the model adapts to environments where access to formal banking services remains constrained.

Beyond prepaid card distribution, iCard integrates into a broader digitalization strategy for payments. The platform removes physical constraints associated with prepaid cards, such as in-store availability, limited opening hours, and loss risks.

As a result, the service delivers a fully digital, continuous, and user-friendly experience.

The platform addresses growing demand for alternative payment solutions, particularly among young users and unbanked populations. At the same time, it reflects the rise of local fintech players that adapt global use cases to African and Middle Eastern market realities.

In the long term, solutions such as iCard could expand access to digital services. They could also act as a bridge between informal economies and global digital commerce.

This article was initially published in French by Adoni Conrad Quenum

Adapted in English by Ange J.A de Berry Quenum