Banks issue 4 million Meeza cards so far – Egypt’s CBE official

Banks have issued 4 million Meeza cards in Egypt, said Deputy assistant governor of the Central Bank of Egypt (CBE) on Sunday.

The Egyptian government seeks to bring to 20 million the number of Meeza card holders in cooperation with various state institutions, Ihab Nusseir added.

Addressing Al Ahram Economic Conference,Nusseir said Egypt seeks to cope with the world most up-to-date technology, pointing out that digitization aimed at increasing financial inclusion rates.

He said CBE also seeks to offer 16,000 quick payment services (QR code) during the coming period.

For his part, Vice President of Banque du Caire Hazam Hegazy said his bank contracted with world experience firms to develop e-services at the bank especially in the micro enterprises sector, adding the digitization would help in granting approvals to clients easily and quickly.

Meeza is the Egyptian National Payment Scheme (NPS) developed by EBC under the supervision of The Central Bank of Egypt, based on the national payment council directions. The network’s objective is to contribute positively in the transformation towards less cash society by availing various payment methods suitable for all Egyptian citizens.

Meeza caters for the consumer’s need to fast, secure and convenient payment methods allowing consumers to manage financial transactions. The network has introduced cards, and digital wallets as payment methods associated with wide spectrum of acceptance channels.

Meeza cards could be used across all ATMs, POSs and e-commerce websites, while wallets can be used to perform various financial services that are instantly accepted; allowing the consumer to transfer funds, purchase goods and services; receive money and use card-less ATM service to withdraw and deposit cash.

Source: MENA