Banque Misr signed a partnership contract with the Administrative Capital for Urban Development. To provide integrated payment solutions that include issuing payment cards and making various electronic collection services available in all websites, the mobile application of the Administrative Capital, the Quick Response Code and points of sale throughout the Administrative Capital.
The protocol was signed by the Administrative Capital Company, Major General Ahmed Zaki Abdin, Chairman and Managing Director of the Administrative Capital for Urban Development, and on behalf of Banque Misr Mohamed Al-Etrebi, Chairman of the Board of Directors. The signing of this protocol came from Banque Misr’s role in providing modern electronic services and in support of the Egyptian state’s directions in implementing financial inclusion. The Administrative Capital is the first fully digital city in Egypt and the Middle East, and it mainly relies on the latest technology in managing the city’s resources as a model for its application in new cities and the development of Cairo into a political, cultural and economic center to be emulated in all Arab countries.
The protocol enables users residing in the Administrative Capital to electronically pay for all services and special subscriptions through the website or application of the Administrative Capital, such as paying fees for services such as parking, electricity and water bills, etc., in addition to residents and non-residents obtaining payment cards with advanced technology to help them complete and use their financial transactions. At the same time, crossing the gates of the Administrative Capital easily and conveniently, as the first multi-use card in terms of payment and the possibility of entry and exit through it.
The Administrative Capital aims to have the population of 2 million in the first phase, in addition to the number of employees, which will reach 50 thousand government employees, who will be transferred to the new headquarters, with plans to increase the capacity to 100,000 employees after the first three years. The total area of the city is 170 thousand acres, and it is expected that the population will reach 6.5 million upon completion of the city’s growth, which will provide about 2 million job opportunities.
It is worth noting that Banque Misr achieved a leap in the deployment of points of sale, as their number increased from 19 thousand to 167 thousand points of sale last December. At the level of other services, Banque Misr ranks first in payment transactions through the QR Code, and at the level of E-Commerce, Banque Misr has achieved the highest growth rate in the e-commerce services market, in addition to the bank’s strategy to support financial technology and Fintech. On the other hand, Banque Misr is distinguished by the diversity of electronic payment card products to suit all customer segments, as the number of customers reached about 13 million customers.
Banque Misr cards achieved the highest growth rate in online purchases in 2020, as well as the loyalty points program, which allows customers to obtain points for using the cards in purchases, and customers can exchange them through cashback or electronic vouchers.
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