Banque du Caire launches elec­tronic loan re­pay­ment ser­vice, credit card pay­ments in co­op­er­a­tion with Fawry

The Daily News Egypt - - Business -

Banque du Caire has launched an elec­tronic credit card pay­ment and loan re­pay­ment ser­vice in co­op­er­a­tion with Fawry Elec­tronic Pay­ment Com­pany, ac­cord­ing to Tarek Fayed, chair­per­son and CEO of the bank.

Fayed ex­plained that this ser­vice al­lows the re­pay­ment of all types of loans, in­clud­ing mi­cro loans, through the col­lec­tion fa­cil­i­ties of Fawry.

He added that this step comes within the frame­work of the bank’s keen­ness to cre­ate new dig­i­tal bank­ing chan­nels to meet the needs of var­i­ous cus­tomer seg­ments, and to keep abreast of de­vel­op­ments in the bank­ing sec­tor in or­der to con­trib­ute to sup­port­ing the Cen­tral Bank of Egypt’s (CBE) plan to be­come a dig­i­tal so­ci­ety.

Ac­cord­ing to Hazem Hegazy, deputy chair­per­son of the bank, the ser­vice al­lows for the pos­si­bil­ity of pay­ing in­stal­ments of per­sonal loans, mort­gage loans, and mi­cro-pro­ject loans elec­tron­i­cally, with­out the need to use bank cards, through more than 40,000 Fawry out­lets.

He pointed out that the ser­vice con­trib­utes to­ward re­duc­ing the time and ef­fort spent to visit the branches of the bank to pay the in­stal­ments of var­i­ous types of loans, as well as credit card pay­ments,in ad­di­tion to re­duc­ing lines at the bank’s 222 branches.

In a re­lated con­text, Banque du Caire an­nounced its plan to launch the first smart branch in 2019, which aims to pro­vide bank­ing ser­vices us­ing tech­nol­ogy with­out the need to deal with em­ploy­ees.

It also plans to launch mo­bile and In­ter­net bank­ing ser­vices, and other ser­vices that are in line with the strat­egy of the CBE to pro­mote dig­i­tal bank­ing ser­vices at the bank­ing level, which has an im­pact on en­hanc­ing the prin­ci­ple of fi­nan­cial in­clu­sion.

The bank is cur­rently de­vel­op­ing a com­pre­hen­sive pay­ment ser­vice through the mo­bile phone Cairo Cash, in ad­di­tion to de­vel­op­ing and de­ploy­ing new ATMs to reach 1,100 from the cur­rent 700 by 2019.

Tarek Fayed, chair­per­son and CEO of the Banque du Caire

Hazem Hegazy, deputy chair­per­son of the Banque du Caire

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