The Daily News Egypt
ABE, Visa launch partnership for cooperation in digital payments industry
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.