Banque Misr Receives EGP 584 Mln In E-Payments

Banque Misr has received EGP 584 million in e-payments as the bank adopts the idea of making all payments conducted electronically to keep up with the latest technological developments, said Yehia El Agamy, general manager of retail banking sector at the bank. Paying in cash and checks has become more difficult than before amid the current political turmoil and security chaos, he continued.

On the sidelines of the Second Annual Conference for Electronic Payments, El Agamy affirmed that the upcoming period will witness cooperation among the state’s ministries and banks to conduct payment electronically; instead of cash payments. The Contract Payment System (CPS) for large financiers will represent a quality change in e-payment system, he affirmed.