Banque Misr signs a protocol with the Administrative Capital to issue electronic payment and collection cards

Banque Misr signed a partnership contract with the Administrative Capital for Urban Development in order 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 Chairman and Managing Director of the Administrative Capital Company for Urban Development, Major General Ahmed Zaki Abdin, signed for the Administrative Capital Company, and for Banque Misr Mohamed Al-Atribi – Chairman of the Board of Directors.

The signing of this protocol came from Banque Misr’s pioneering role in providing modern electronic services and in support of the Egyptian state’s directions in implementing financial inclusion. As the Administrative Capital is the first fully digital city in Egypt and the Middle East, 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 that is 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, and others. This is in addition to residents and non-residents obtaining payment cards with advanced technology to help them complete their financial transactions and use them at the same time to cross 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 a population of 2 million in the first phase, in addition to the number of employees, which reaches 50,000 government employees to 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. On 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 Fintech. On the other hand, Banque Misr is distinguished by the diversity of electronic payment card products to suit all customer segments, with the number of customers reaching 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 cash back or electronic vouchers.
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