ABE, Visa launch part­ner­ship for co­op­er­a­tion in dig­i­tal pay­ments in­dus­try

The Daily News Egypt - - Banking -

The Agri­cul­tural Bank of Egypt (ABE) and Visa Inc have en­tered into a strate­gic part­ner­ship agree­ment which in­cludes, in its first phase, the train­ing of 400 ABE em­ploy­ees who deal di­rectly with cus­tomers to im­prove the bank’s level of prod­ucts and ser­vices within the frame­work of achiev­ing the prin­ci­ple of fi­nan­cial in­clu­sion.

El­sayed Elkosayer, chair­per­son of the bank, said that this agree­ment comes within the frame­work of the bank’s devel­op­ment of the per­for­mance of all sec­tors in or­der to im­prove the qual­ity of the prod­ucts pro­vided to cus­tomers and to im­ple­ment the state’s di­rec­tives to pro­vide fi­nan­cial and bank­ing ser­vices to all seg­ments of so­ci­ety, es­pe­cially those who do not deal with the bank­ing sys­tem, un­der the aus­pices of the Cen­tral Bank of Egypt.

He added that the first phase of the train­ing process was launched last week and in­cluded the train­ing of 110 em­ploy­ees of the bank by Visa’s ex­perts.

The train­ing in­cludes the basics of the dig­i­tal pay­ment in­dus­try, the role of in­no­va­tions in the in­dus­try, its role in sup­port­ing fi­nan­cial in­clu­sion ef­forts,the in­for­ma­tion and data se­cu­rity pil­lars of the in­dus­try, and the need for fi­nan­cial ed­u­ca­tion for cus­tomers.

Elkosayer pointed out that co­op­er­a­tion with Visa Inc un­der­scores the im­por­tance of the dig­i­tal pay­ments in­dus­try, es­pe­cially in light of the ex­pected ben­e­fits for con­sumers, busi­nesses, and gov­ern­ments via reliance on dig­i­tal pay­ments.

For his part, Tarek Mah­fouz, Visa coun­try man­ager for Egypt, stressed the im­por­tance of the part­ner­ship with the ABE, say­ing it is gain­ing mo­men­tum day af­ter day, es­pe­cially in light of the bank’s keen­ness to ben­e­fit from best in­ter­na­tional prac­tices.

DEVEL­OP­MENT

El­sayed Elkosayer, chair­per­son of the ABE

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