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In line with the Central Bank’s intention to expand electronic payments.. National Bank of Egypt cooperates with “Fawry”

  • Monday 16 March 2020 18:04 - الإثنين ٢٢ رجب ١٤٤١

    • National Bank of Egypt and Fawry the leading company in digital transformation and electronic payments, have cooperated in a new agreement aiming at providing 43.000 Fawry machines to make shopping and purchasing products easier using bank cards and e-wallets for mobile phones, with an increase of more than 54% in the number of credit card machines in Egypt. Karim Soos – Retail Risk Group Head at NBE, said that the bank seeks through the new agreement to support its strategic plans towards taking steady steps supporting the goals of financial inclusion and expansion in various banking services and in particular the digital ones provided to customers, which has become the global trend recently, and are the plans that aim to gradually transform into a cash less society in line with the country's plans to activate digital transformation. Karim Soos added: “The new agreement with Fawry makes it easy for all credit card holders and bank wallets for different banks to shop and pay in several sectors, including pharmacies, supermarkets and small outlets, this by providing 43K machines that accept bank cards and mobile phones payments in the market.” For his part, Mohamed Okasha “Managing Director of Fawry”, stated that the new partnership between NBE and Fawry comes in the framework of the cooperation between the company and banks of the government banking sector to facilitate payment process for citizens. Stressing that Fawry continues to collaborate with Egyptian banks to provide its services in different sectors such as bill payment, e-wallet system for mobile phones, electronic payment acceptance system, micro-lending, banking agent services and shopping. Worthy to mention that the number of machines that accept payment with cards and by phone is approximately 80 thousand machines in Egypt, however after Fawry's new agreement with National Bank of Egypt of adding 43 thousand machines to the market, the increase has become more than 54%.



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