The National Bank of Egypt (NBE) has obtained a licence to allow the tap-on-phone service which provides new advanced payment solutions.
As the first bank to receive this licence in Egypt, the NBE is committed to implementing the latest quality standards in digital services provided to customers, the bank’s Chairman, Hesham Okasha, said in a statement on Tuesday.
The state-run bank aims to provide micro-and small-sized enterprises with new digital payment solutions in order to attract new segments of customers into the banking sector.
The bank has received the first licence in Egypt to enable customers to make contactless payments through their credit, debit, or Meeza cards using the tap-on-phone mobile application, the Vice Chairman of NBE, Dalia El-Baz, said.
The tap-on-phone functionality allows customers to pay for goods by using their phone as a point-of-sale (POS) terminal.
