A pioneer in electronic service provision, Banque Misr supplies its Mobile Wallet customers with QR codes to be used for electronic payment in points of sale and Electronic Websites. This development is in support of the financial inclusion efforts that aim at providing access to all financial services to all social segments through official channels, including bank accounts, saving accounts, payment and transfer services, and more.
As one of the first banks to launch the QR code service through its points of sale network and Electronic Websites, Banque Misr works in collaboration with "Meeza", the Egyptian National Payment Scheme for mobile wallets. Together they help pave the path towards the transformation to a less-cash society by empowering retailers to carry out their purchases easily and securely without the need to pay in cash - customers simply scan the QR code for the purchase at the trader's point of sale, and Electronic Websites through the electronic wallet, and the data for the purchase operation will appear, and to confirm the payment, the customer enters their wallet password.
In collaboration with Meeza, Banque Misr targets more than 13 million mobile wallet users, thereby increasing the overall number of financial transactions carried out through mobile wallets. In addition, Banque Misr is the first bank to offer withdrawals from and deposits to mobile wallets through its ATM network - customers will enjoy the ability to transfer money through their mobile wallets and instantaneously withdraw them from the receiving end.
Banque Misr is also one of the first banks to offer payment through mobile phones through its wallet "BM Wallet", which allows its customers to transfer money from the BM wallet to any other wallet in Egypt, as well as withdrawing from and depositing to the wallet through more than 8,000 ATM machines all over Egypt and through more than 90,000 outlets, paying public utility bills, paying land line and mobile phone bills, buying tickets, recharging mobile credit, and making donations. On top of that, BM Wallet users can make deposits to the wallet by linking Banque Misr cards (Debit and credit) automatically through the application or through any of the bank branches spread all over the country. In addition, the bank made it possible for mortgage loan customers to pay their installments through the application, which is a first in Egypt.
To make things easier, customers can apply for the service by visiting any of the 650 branches nationwide.
Banque Misr is always keen to develop digital banking channels to keep pace with trending technological developments, and to provide its customers with up-to-date products and services to fulfill all their needs.