Mastercard has signed a deal with e-finance, Egypt’s first fintech company, to support the digitization of online government payments across the country.
The collaboration will introduce faster, more flexible online payment solutions to improve citizens’ payment experiences and further support the country’s transformation towards a digital society. Through Mastercard’s online payment solutions, citizens will now be able to complete online transactions for all governmental services electronically across a range of digital channels using all kinds of cards and mobile wallets.
(TOP: Khalid Elgibali, the Division President for MENA at Mastercard; Ibrahim Sarhan, the Ibrahim Sarhan, chairman of e-finance; and Khaled El Attar, the Vice Minister of Digital Transformation, Automation and Administrative Development at Egypt’s Ministry of Communications and Information Technology – MCIT).
The initiative has garnered support from both Egypt’s MCIT and Ministry of Planning. The signing ceremony was attended by Eng. Khaled El Attar, Vice Minister of Digital Transformation, Automation and Administrative Development at the Ministry of Communications and Information Technology (MCIT), Eng. Ghada Labib, Deputy Minister of Planning, Control and Administrative Reform, Eng. Ibrahim Sarhan, Chairman of e-finance and Mr. Khalid Elgibali, Division President, Middle East and North Africa, Mastercard.
“The agreement signals a new step towards achieving financial inclusion and promoting sustainable, inclusive economic growth in Egypt. We plan to continue investing in human resources, technology, and infrastructure and applying best-in-class processes and industry standards as we drive digitization in the market. We are confident that, as leaders in the field, Mastercard will support our objectives of driving digital economy and providing flexible payment solutions customized to the Egyptian market,” said Ibrahim Sarhan, Chairman of e-finance.
Commenting on the agreement, Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, said: “Our partnership with e-finance not only highlights the development of Egypt’s digital infrastructure, it also marks another milestone in our journey to deliver frictionless, faster and more secure public-sector payment solutions to Egyptians. We are committed to helping governments across the Middle East and North Africa (MENA) region in their transformation towards sustainable digital economies. In addition, we will continue our efforts to provide smarter, more connected and more inclusive cities through such strategic partnerships.”