Banque Misr, Etisalat Egypt by e& launch a joint e-payments app

Banque Misr, Etisalat Egypt by e& announced on Sunday the launch of a joint e-payments company named SuperPay in the Egyptian market, according to statements in press conference.

CEO of the new electronic payments company Tarek Nagy stated that the company’s capital is worth EGP500 million ($161999). He added that the company seeks to reach a market share of 10 percent.

For his part, deputy Chairman of Banque Misr, Akef Al-Maghrabi noted that bank’s POS electronic payment machines counted around 500,000 by the end of June 2023, pointing out that they conducted several partnerships with international companies to automate payment system in various sectors.

He pointed out that the number of customers contracting for collection doubled by 100 percent. Also, the volume of business through the electronic payment portal increased the double during the first half of 2023, compared to the same period at 2022.