E-Finance, Egypt’s 4 Banks to Apply Payment Via Mobile Service After Polls

An official source in E-Finance State art electronic payment Egypt Company said his company agreed with 4 banks in banking sector to apply payment via mobile phone service, noting that the banks are in applying stage of the Central bank’s conditions and to obtain the necessary approvals.

Through applying the new service with the banks, the clients will pay their general bills including the electricity and natural gas, in addition to tax and custom collections, the source added

E-Finance has recently included 2 banks to e-collection system of the government payment, so the total numbers of banks reached up 30 banks, along with the branches of Egypt’s Post Authority and payment points.

Ibrahim Sarhan, Chairman and Managing Director of e-finance said in a previous statements that the capital of the company boosted from EGP120million to EGP180million, stressing that the firm needs further boost to its capital so as to expand abroad in exporting batteries, the other technological financial transactions, stressing that the owners will welcome any required increase in the capital.

Meanwhile, E-Finance was established in 2005 as the market leader in the field of electronic payment. Operating in Egypt, e-finance provides state of the art electronic payment and its shares own and divided by National Investment Bank 70%, National Bank of Egypt 10%, Banque Misr10% and the Egyptian Banks Company (EBC) with 10%.