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Banque Misr is the First Egyptian Bank to issue the Electronic Payment Card “Meeza” in Cooperation with E-finance Company
For the first time in Egypt, Banque Misr issues national electronic payment card “Meeza” (i.e. merit in Arabic language), to be the first smart payment card holding the logo of the Electronic Payment Network “Meeza”, in cooperation with e-finance Company. Meeza Card is considered the first national payment card that holds the logo of the Electronic Payment Network through the Egyptian Banks Company “123”. The issuance of this e-payment card takes place in line with the State policies to expand electronic payment channels, and in the light of the Electronic Payment Council initiatives under the
of umbrella of the Central Bank of Egypt (CBE). As well, the issuance of the e-payment card “Meeza” aims at helping in the implementation of cash withdrawal transactions and safe purchase from the points of sale spread all over Egypt, which accordingly contributes significantly to the implementation and enforcement of financial inclusion and digital cashless society plan as one of the objectives of sustainable development strategy in accordance with the vision of Egypt 2030. The same as the other prepaid cards, Meeza card is issued for the different segments of customers. Additionally, the issuance of this card relies on the strong infrastructure of e-finance Company as well as the Company’s most recent global systems that provide safe environment for cards delivery according to global standards, which is compared to the international cards institutions in delivering Meeza card to Banque Misr.
Further, the e-payment card “Meeza” is used similarly like any other electronic payment card, provided that it must be used only within the Arab Republic of Egypt in purchasing from the commercial outlets, using the POS machines of the merchants contracted with the Egyptian banks offering merchants payment services, and in paying the different governmental fees as well as in cash withdrawing from the ATMs of the different Egyptian Banks.
Moreover, Mr. Mohamed El-Etreby, Chairman of Banque Misr, announced that launching Meeza card in the Egyptian market by the beginning of 2019 is one of the most significant achievements in the field of financial inclusion. El-Etreby clarified that BM’s Meeza cards can be received through the bank’s network of branches spread all over Egypt, also the card can be used in purchase transactions carried out via the points of sale at all the commercial outlets holding the logo of “Meeza” or cashing transactions via the ATMs “123” and the bank’s ATMs spread nationwide. “Meeza card also enables its holder to charge the card’s balance through the bank to be used several times during card’s validity period” further explained the Chairman of Banque Misr.
Furthermore, Cards Issuance Center at e-finance Company is working around the clock to achieve the highest productive and technological capabilities and provide the best level of service in Egypt, the Middle East and the African continent by providing the highest levels of safety and data security for the issued cards through using a range of high-tech and efficient cards printers machines; said the Eng. Ibrahim Sarhan, Chairman and Managing Director of e-finance Company. Sarhan also added that BM’s Meeza card has been produced through using smart cards technology, which is distinguished by the highest levels of safety and technology and has been encrypted and secured in accordance with national security determinants and global encryption requirements.
Notably, BM is issuing Meeza card to complement the bank’s leading role in e-payment field whereas Banque Misr provides a number of services in this field such as; BM-Wallet for payment via mobile phone, which can be linked with Meeza card, in addition to payments collection services offered by the bank through the merchants via point of sale (POS) machines and internet network. This is in order to boost the efforts of the State for the sake of achieving financial inclusion and providing financial services to all of the society’s segments, side by side with reducing the use of banknotes outside the banking sector, supporting and stimulating the use of electronic means and channels to pay instead. As well, the issuance of such card targets the development of national payment systems and supervision frameworks to reduce the risks associated with them so as to create safe, efficient and effective systems to integrate the largest number of citizens into the banking system, integrate the informal sector into the formal sector, reduce money transfer cost, increase tax receipts, protect the rights of users of payment systems and services, and to achieve competitive market for payment services as well as to organize and regulate the practices of the existing entities.
It is also worth mentioning that Banque Misr always seeks to provide its customers with the most recent and updated banking services and products in order to fulfill the customers’ needs.
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