EGYPT – National Bank of Egypt (NBE) has signed a partnership agreement with tech company talabat to provide advanced digital payment solutions through the company’s application, with ease and security prioritized, in order to reduce cash handling, report Daily News Egypt.
The cooperation stems from the mutual strategic focus towards the expansion of electronic payments, as well as supporting the Egyptian government’s financial inclusion and digital transformation policies.
Karim Sous, Chief Executive Officer of Retail Banking and Branches at the National Bank of Egypt, stated that this agreement comes within the framework of the National Bank of Egypt (NBE) agenda to enrich the experience of its corporate or individual customers and expand the launch and development of new banking solutions and services.
“We also aim to provide more electronic payment methods that keeps up with the customer needs and encourage them to use digital payment solutions through smooth and secured payment channels supporting the growth of e-commerce in Egypt – in line with the Central Bank of Egypt’s policy to limit the use of cash,” he said.
“Our strategy is very evident through the bank’s digital expansion figures, as the number of POS machines in March 2021 increased to more than 214 thousand machines, along with an increase in the volume of digital transactions.”
Hadeer Shalaby, the Managing Director of talabat Egypt also added that digital payments through talabat app increased by 82% last year.
“We always strive to provide an extremely seamless customer experience for our users, starting from having the highest variety of restaurants and vendors, along with the diversity of payment methods,” he said.
“Our operations are backed up with Delivery Hero’s cutting-edge world-class technology and artificial Intelligence that enables us to meet our customers’ expectations and continuously enhance the experience of our customers on the platform. We are proud to cooperate with a major bank like the National Bank of Egypt to encourage a greater number of users to use electronic payments and reduce the volume of cash transactions.”
Mohamed Gameel, Head of Channels and Sales added that the agreement will provide talabat customers with a distinct and easy experience in paying through the company’s application. Users will be able to use “Meza Cards”, the QR code service, and several other advanced payment channels developed to contribute to the digital transformation plan.
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