Banque du Caire, Egypt\u2019s third largest public state-lender,\u00a0 is a step closer to establish a company for electronic payment (e-payment) according to its chairman Tarek Fayed.<\/p>\n
The move is a step forward towards supporting expansion plans in the field of digital transformation and financial inclusion.<\/p>\n
He added that the bank has succeeded in launching a number of digital services and products, most notably the mobile and the internet banking, which witnessed a surge in the number of customer during 2020 reaching 67,000 customers, with a growth rate of 570 percent compared to 2019.<\/p>\n
The bank\u2019s restructure of its mobile phone wallet \u201cCairo Cash\u201d has led to an increase in its subscribers to more than 500,000, with a usage rate higher than 10 percent, which higher than the targets set by Central Bank of Egypt<\/p>\n
The third quarter (Q3) of 2020 also witnessed the signing of a cooperation agreement with Etisalat Misr in order to manage the company\u2019s electronic wallet, as a banking partner and provide a package of the best banking services.<\/p>\n
The step has increased the total number of customers benefiting from phone payment services at Banque du Caire for \u201cCairo Cash\u201d and \u201cEtisalat Cash\u201d wallets to 2 million customers.<\/p>\n
As the result of bank\u2019s continuous efforts to develop electronic payment services, it has obtained the CBE \u00a0licence for e-payment through Point of Sale devices (POS), a new addition to the digital payment package offered by the bank to its customers.<\/p>\n
E-payment services via QR-Code have also witnessed a monthly growth rate of approximately 38 percent, with the number of sellers reaching 17,532 until late September 2020.<\/p>\n
On the other hand, the total number of credit cards at the end of 2020 reached 136,000, with an increase of\u00a0 33 percent and an estimated balance of \u00a0576 million Egyptian pounds, an increase of 63% compared to 2019.<\/p>\n
The bank also opened the first digital branch, while continuing to expand geographically by opening new branches and developing existing ones, the Chairman noted<\/p>\n
The bank now has 241 branches and banking units in the various governorates in its network of branches. The aim is to reach customers wherever they are, and provide banking services with the highest level of efficiency and quality.<\/p>\n
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Banque du Caire, Egypt\u2019s third largest public state-lender,\u00a0 is a step closer to establish a company for electronic payment (e-payment) according to its chairman Tarek Fayed.<\/p>\n","protected":false},"author":4,"featured_media":320964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-321748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"\n