Vodafone, AlexBank to sign mobile money transfer deal Sunday

Vodafone Egypt is set to sign next Sunday a deal with AlexBank, part of Italian bank Intesa Sanpaolo, to offer money transfer services via mobile.

The company has previously offered the service for the Commercial International Bank (CIB), said Karim Shehata, head of Sales Department at Vodafone.

Shehata said that Vodafone aims at activating the direct purchase services through “Vodafone Cash” before the end of the current year.  He added that the purchasing process will be through transferring money directly from AlexBank client’s wallet to the seller the same way debit and credit cards are used.

Purchasing through mobile phone wallet is currently active through online shopping platforms such as Souq.com and Jumia, Shehata further told Amwal Al Ghad.

The number of Vodafone cash users in the local market has registered 4 million users, adding that activating purchasing through the mobile phone wallet will contribute to the spread of the mobile payment services.