PayFort, CIB co­op­er­ate to en­able ‘Meeza’ card hold­ers shop on­line

The Daily News Egypt - - News - By Hos­sam Mounir

PayFort, an Ama­zon com­pany, has an­nounced a part­ner­ship with the Com­mer­cial In­ter­na­tional Bank (CIB) to en­able Meeza card hold­ers to shop on­line and pay for goods and ser­vices from PayFort’s con­tracted stores, even though debit cards in Egypt do not al­low on­line shop­ping.

The Cen­tral Bank of Egypt (CBE) had an­nounced the launch of the Meeza pre­paid debit card, in a bid to achieve fi­nan­cial in­clu­sion and tran­sit into a cash­less so­ci­ety.

The card will al­low cit­i­zens to re­ceive and make pay­ments elec­tron­i­cally and pay their bills via ATMs and at gov­ern­ment de­part­ments.

“The Meeza card is one of the ways in which the Egyp­tian gov­ern­ment is help­ing to re­duce de­pen­dency on cash, open­ing up the coun­try’s elec­tronic pay­ments in­fra­struc­ture to mil­lions of cit­i­zens through­out the coun­try,” said Manag­ing Direc­tor of PayFort, Omar Soudodi.

“Despite the fast growth in card ser­vices, many coun­tries in our re­gion still have a high rate of cash de­pen­dency and a low pen­e­tra­tion of credit card usage,” Soudodi ex­plained

“The Meeza card ini­tia­tive will put a new elec­tronic pay­ment ca­pa­bil­ity in the hands of many peo­ple that do not typ­i­cally use credit or debit cards all over Egypt,” said PayFort Egypt Coun­try Man­ager,Moataz Mohi. “The ar­rival of the new na­tional debit card will help drive Egypt’s cash­less so­ci­ety agenda and dra­mat­i­cally in­crease par­tic­i­pa­tion in the gov­ern­ment’s elec­tronic pay­ment sys­tems. In ad­di­tion, in­te­gra­tion with PayFort’s pay­ment gate­way opens up the world of ecom­merce to many new cat­e­gories of Egyp­tian con­sumers,” elab­o­rated Mohi.

Head of Pay­ment Ac­cep­tance at the CIB, Mo­hammed Noa­man, praised the new ini­tia­tive of Meeza card, con­firm­ing that it sup­ports fi­nan­cial in­clu­sion, and has a pos­i­tive im­pact on in­creas­ing elec­tronic pay­ment ser­vices by ex­pand­ing the ac­cep­tance of cards, and pro­vid­ing an ad­vanced pay­ment method. He added that this will in re­turn en­cour­age the in­te­gra­tion of en­ti­ties, com­pa­nies, and mer­chants into the elec­tronic pay­ment sys­tem.

PayFort has sup­ported a num­ber of ma­jor ini­tia­tives across the re­gion to re­duce de­pen­dence on cash and boost elec­tronic pay­ments. PayFort has al­ready suc­cess­fully in­te­grated its pay­ment gate­way with the Saudi Pay­ment Net­work’s Mada na­tional debit card and with a SADAD ac­count, the na­tional Elec­tronic Bill Pre­sent­ment and Pay­ment (EBPP) ser­vice provider in Saudi Ara­bia. These in­te­gra­tions al­low Saudis to pay bills on­line via a SADAD ac­count and use Mada cards to shop and pay on­line.

Ac­cord­ing to PayFort State of Pay­ments, Egypt was among the fastest grow­ing coun­tries in 2016 with a 22% year-over-year growth. In the same year, Egypt led the re­gion in the growth of on­line shop­ping with a 32% in­crease in vol­ume of pay­ments.

Head of Pay­ment Ac­cep­tance at the CIB, Mo­hammed Noa­man

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