NBE, BM is­sue first na­tional pay­ment card

CARD TAR­GETS OVER 20 MIL­LION EGYP­TIAN CIT­I­ZENS WHO DO NOT DEAL WITH BANK­ING SEC­TOR: NBE CHAIR­PER­SON

The Daily News Egypt - - Business - By Hos­sam Mounir

The Na­tional Bank of Egypt (NBE) and Banque Misr (BM) an­nounced, last week, the launch of the first pre­paid na­tional pay­ment card un­der the name Miza.

Hisham Okasha, chair­per­son of the NBE, said that the card ad­dresses dif­fer­ent seg­ments of the cus­tomers, and pro­vides the hold­ers the free­dom of cash with­drawal through the ATM net­work of the NBE or 123 ATMs across Egypt.

He added that the card also en­ables the holder to eas­ily pay all gov­ern­ment pay­ments elec­tron­i­cally, a trend sup­ported by the Na­tional Pay­ments Coun­cil, in ad­di­tion to mak­ing it pos­si­ble to pur­chase through a wide net­work of mer­chants through elec­tronic points of sale (POS).

He pointed out that co­or­di­na­tion is now un­der­way with the Egyp­tian Banks Com­pany and the Cen­tral Bank of Egypt (CBE) to al­low the use of these cards in shop­ping and on­line pay­ments, es­pe­cially gov­ern­ment pay­ments.

Ac­cord­ing to Okasha, these cards tar­get more than 20 mil­lion Egyp­tian cit­i­zens,who are not now deal­ing with the bank­ing sec­tor.

Ac­cord­ing to Mo­hamed El-Etriby, chair­per­son of Banque Misr, the launch of the Miza card in the Egyp­tian

THE CARD LAUNCH IN THE EGYP­TIAN MAR­KET AT THE BE­GIN­NING OF 2019 IS ONE OF THE MOST IM­POR­TANT ACHIEVE­MENTS IN THE FIELD OF FI­NAN­CIAL IN­CLU­SION

mar­ket by the be­gin­ning of 2019 is con­sid­ered one of the most im­por­tant achieve­ments in the field of fi­nan­cial in­clu­sion. He pointed out that the cards were launched in co­op­er­a­tion with e-finance.

He pointed out that it is pos­si­ble to get the cards is­sued by Banque Misr through all branches, adding that the card can be used in pur­chase trans­ac­tions, through POS in all com­mer­cial out­lets that have the Miza fea­ture or the 123 ATMs. The cards can be recharged through the bank to be used again.

Ac­cord­ing to Ibrahim Sarhan,chair­per­son and manag­ing di­rec­tor of efi­nance, the Miza card was pro­duced us­ing state-of-the-art smart chip tech­nol­ogy, with the high­est lev­els of se­cu­rity and tech­nol­ogy, en­crypted and se­cured ac­cord­ing to na­tional se­cu­rity and en­cryp­tion re­quire­ments.

He added that the com­pany’s 24hour card is­su­ing cen­tre is work­ing to achieve the high­est pro­duc­tion and tech­no­log­i­cal ca­pa­bil­i­ties, pro­vid­ing the best level of ser­vice in Egypt, the Mid­dle East and the African con­ti­nent, as well as achiev­ing the high­est lev­els of se­cu­rity and data se­cu­rity of the ex­ported cards us­ing high-tech.

For his part, Ye­hya Aboul Fo­touh, vice chair­per­son of the NBE, said that the bank will is­sue Miza cards in three types.

He ex­plained that the first type in­cludes pre-paid cards aimed at a large seg­ment of cit­i­zens out­side the gov­ern­ment sec­tor or the bank­ing sec­tor, the most im­por­tant of which are youth.The sec­ond type is a salary card for pub­lic sec­tor em­ploy­ees to be used in pay­roll.The third type will be debit card is­sued for bank cus­tomers in lo­cal cur­rency.

Ac­cord­ing to Dalia El-Baz, vice chair­per­son of the NBE, the bank has al­ready started to is­sue pre­paid cards in the first phase, which will be avail­able in all branches in Jan­uary 2019 to meet the needs of a large seg­ment of cit­i­zens who do not deal with the bank­ing sys­tem, start­ing at the age of 16 years.

She added that these types of cards tar­get the youth seg­ment,and the seg­ment of cit­i­zens that re­ceive re­mit­tances from abroad, es­pe­cially from Gulf States, to dis­burse them us­ing the cards.

Miza will be used as a card, such as any other elec­tronic pay­ment card, but only in Egypt.The card can be used when pur­chas­ing items and ser­vices us­ing POS, pay­ment of gov­ern­ment ser­vices, and to with­draw cash us­ing ATMs.

the card can be used in pur­chase trans­ac­tions, through POS in all com­mer­cial out­lets that have the Miza fea­ture or the 123 ATMs

Hisham Okasha, chair­per­son of the NBE

Mo­hamed El-Etriby, chair­per­son of Banque Misr

Ibrahim Sarhan, chair­per­son and manag­ing di­rec­tor of e-finance

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