Egypt’s Federation of Egyptian Banks presented new suggestions to the Central Bank of Egypt regarding the introduction of new facilities on the mobile payment services.
The chairman of the Federation of Egyptian Banks, and Commercial International Bank, has made these remarks during opening session of 4th edition of PAFIX 2017 held at the sidelines of Cairo ICT 2017.
Ezzalarab added that the suggestions are related to allowing the transfer of small amounts of money through the mobile operators while in the case of large financial transactions the customer has to go to the bank.
Moreover, mobile payment generally refers to payment services operated under financial regulation and performed from or via a mobile device. Instead of paying with cash, cheque, or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods.
On the other hand, PAFIX 2017 is MEA’s leading expo & forum, focused on innovative financial inclusion, payments & transaction, retail banking technology, cyber-security and Fintech.