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E-collection services subway
Banque Misr Signs Collaboration Agreement with Egyptian Company for Metro Management and Operation for Collection Services
Banque Misr recently signed a collaboration agreement with the Egyptian Company for Metro Management and Operation for Collection Services, to provide and develop electronic collection, for services offered by the company, covering 74 stations to date. Banking cards are accepted by POS devices and the BM Wallet – as well as other mobile wallets – through the QR Code.
This agreement complements the success achieved by Banque Misr on this front; since it was the first bank in Egypt to offer electronic collection services via QR Code, through “Meeza” digital network – the national transfer agent for mobile wallets. Worth noting is that this agreement will allow more than 3.5 million passengers to pay subscription fees, on a daily basis, whereby the Bank provides POS devices at metro stations, thus allowing payments to be made through banking cards, BM Wallet and other mobile wallets via QR Code. It should also be pointed out that Banque Misr was the first bank to roll out withdrawal and deposit services for mobile wallet customers, through its network of ATMs, in order to allow the transfer of cash through mobile wallets and immediate withdrawal of funds via the transferee.
Banque Misr has been a pioneer in the field of online payment collection, being one of the largest banks operating in the domain of electronic cards and services. It has also been a key supporter of digital transformation and financial inclusion in Egypt, by offering various financial services to all social segments via official channels, including banking and savings accounts, payment and transfer services. This is while being the first to render mobile payment services through its BM Wallet application, which allows users to transfer funds to any other wallet in Egypt, as well as withdraw and deposit into the wallet via more than 9,000 ATMs throughout Egypt and more than 90,000 Fawry outlets. Users are also able to pay their utility bills, landline and mobile phone bills, purchase tickets, charge mobile phone credit and make donations. BM Wallet users are further able to deposit into the wallet, as Banque Misr cards (debit and pre-paid) are automatically linked through the application, or via the Bank’s numerous branches. The Bank has allowed customers of real estate loans to pay their installments through the wallet, being the first bank in Egypt to do so, while enabling customers to subscribe to this service at more than 700 branches in the country.
Banque Misr is keen on supporting digital transformation efforts, so as to improve the provisioning of banking and financial services, while paving the way for capitalizing on new pathways towards economic and financial development. The Bank always strives to improve its services, maintain its long-term success and effectively participate in offering services that fulfil the needs of its customers. This is since the values and strategies of Banque Misr reflect its commitment and dedication to sustainable development and to achieving prosperity for Egypt.
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