Egyptian Banks Company for Technological Advancement (EBC), revealed that the national payment card system “Meeza” users reached 1 million, EBC Managing Director Tarek Raouf announced.
He stressed that Egypt is moving steadily in developing the banking sector and digitalising payments and financial transactions, as part of the financial inclusion plan.
Raouf pointed out that the national payment system has succeeded remarkably in the process of digital transformation of transactions and government payments which Egypt has applied since the beginning of May 2019.
He praised the great cooperation between the concerned institutions and ministries to ensure the success of this system, notably the Central Bank of Egypt (CBE) and the Ministry of Finance, noting that the system has contributed significantly to facilitating dealings of individuals with various government agencies.
Raouf added that the EBC presented during Seamless summit and exhibition (17-18 June) its most recent achievements in the electronic payment system, and the most important characteristics and features through a documentary.
He noted that the system represents a more advanced qualitative leap in the field of financial transactions, whether in the field of payment of government receivables or purchases of individuals, shops, and stores, as well as in the field of electronic commerce.
Raouf added that the successive successes achieved in the field of financial inclusion qualify Egypt to become a regional centre in the field of financial technology industry.
He pointed out that the strategy of digital transformation adopted by the CBE in cooperation with all partners in the Egyptian market, including EBC, which relied on the Egyptian, regional, and international data, within the framework of Egypt Vision 2030, which promotes the trend towards youth and supports entrepreneurship and financial stability within the framework of the transition to a society that relies less on cash, which was adopted by the National Payments Council under the chairmanship of President Abdel Fattah Al-Sisi.
He pointed out that the EBC has completed everything related to the technical aspects and infrastructure necessary for the implementation of the electronic payment system, which includes many means, including the Meeza card, the smart wallet that relies on electronic cash transfers via mobile phone and QR Code.