Banque Misr signs a cooperation agreement with the noon payments platform to provide electronic collection services
Eman Al-Wasili and Fathi Al-Sayeh
Based on the leadership of Banque Misr in the field of electronic payment collection, Banque Misr recently signed a cooperation agreement with The noon payments gateway to provide and develop electronic collection services, using bank cards and electronic wallets via the QR Code, and was signed in the presence of a group of bank and company leaders. With the aim of facilitating the beneficiaries and providing them with a distinguished service, and based on its belief that digital transformation has become an important stage, especially in light of the emergency conditions imposed by the Corona pandemic on the world, which stimulated the use of digital platforms to obtain services, and therefore the Bank was keen to expand the provision of digital services to its customers, in addition to launching the first digital bank in the Egyptian market to ensure keeping pace with the global development in these areas, which contributes to achieving the goals of financial inclusion as one of the country’s national goals and in line with the policies of the National Council for Electronic Payments, which For you by motivating the use of electronic means and channels for payment instead of using cash.
This cooperation is a step on the path of Banque Misr’s successes in the field of electronic payments, as Banque Misr was a pioneer in providing electronic collection services Via QR Code; And that is through the Meeza Digital network for the national mobile wallet converter, and Banque Misr is also the first bank to provide a withdrawal and deposit service for electronic mobile phone wallets through its ATM network; This is to enable individuals to transfer cash to money through their electronic wallets on the mobile phone and withdraw them in a moment through the transferring party, as Banque Misr launched electronic banking services via mobile phone for its customers, and the bank is one of the first banks to provide the mobile payment service through an application Banque Misr “BM Wallet”
Mrs. Hend Fahmy, Head of the Retail Banking Sector at Banque Misr, stated that signing this protocol with the noon payments gateway comes from Banque Misr’s belief that The technological development represented in websites and smartphone applications has become today the fastest variable among the variables that affect the global economy, and pursuing this development has become a very important matter, rather it is an imperative in order to support the growing economy and support technology companies that have become an integral part of the economy The signing of the protocol comes within the framework of Banque Misr’s adoption of the concept of digital transformation and innovation as a basic pillar upon which to manage the bank’s business, as the concept of the service provided by Banque Misr must include technological basics. To serve customers’ requirements, which has become an urgent need with the development of the use of mobile phones and computers, where technological services are now considered a necessity for the bank’s continuity of leadership in the Egyptian banking market. Digital in the banking system will contribute more to improving the provision of banking and financial services, and digital transformation and financial technology support for Banque Misr will contribute to benefiting from the new promising paths of economic and financial development. With the aim of supporting growth and enabling more segments of society to obtain appropriate financial solutions.
Ms. Hend Fahmy also confirmed that signing this protocol stems from Banque Misr’s pioneering role in providing electronic services and all payment solutions. In support of the Egyptian state’s directions in implementing financial inclusion, and in light of the Bank of Egypt’s endeavor to localize advanced technological services in its various dealings to ensure keeping pace with global development in these areas.
Mustafa Maher – Regional Director of Noun Payments: “We are proud of the cooperation with Banque Misr as one of the largest and leading Egyptian banks in the field of electronic payments. Noon Payment Gateway aims to facilitate digital financial transactions and ensure that customers can access a full range of services that meet their growing needs, through quick setup processes and a developed and practical API, to ensure a smooth and easy customer experience.” He added: “The platform also aims to reduce people’s dependence on cash transactions in line with the financial inclusion initiatives of the Central Bank of Egypt.”
Gate has been created Noon for digital payments with the aim of facilitating the last stage of financial transactions for companies and customers alike. Innovative and advanced payment solutions are designed to support companies of all sizes and promote their growth. The integrated payment platform allows customers to pay in several different ways such as payment with Visa, MasterCard, Meeza and others. In addition to flexible installment programs, customers can save their cards to facilitate future purchases, which leads to increased transactions and transfers.
Noon was established as a joint venture between the Saudi Public Investment Fund and Emirati businessman Mohammed Alabbar, and as a Saudi company and from the heart of Headquartered in Riyadh, Noon aims to foster a sustainable digital ecosystem for local and regional digital businesses. Noon seeks to provide integrated services and exceptional support to its customers in the region. Noon was launched in the 168 of December 168 in the Kingdom of Saudi Arabia and the United Arab Emirates, and in February 2019 the Noon platform was launched in Egypt. Since then, Noon has grown to become the leading destination for online shopping at the regional level, through local technologies and competencies that contributed to the development of the digital platform’s business in transportation, warehousing, logistics and electronic payment gateways. Banque Misr always supports digital transformation efforts by providing electronic solutions to facilitate customers, thus contributing further to improving the provision of banking and financial services. And the work strategies of Banque Misr always reflect the bank’s commitment to the sustainable development and prosperity of Egypt.