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Banque Misr Signs Protocol of Collaboration with South Cairo Electricity Distribution Company and Fawry Dahab for Provisioning Electronic collection Services
17/11/2020
Owing to Banque Misr’s pioneering role in the collection of electronic payment transactions and its status as one of the largest Egyptian banks operating in the field of electronic cards and services, a tripartite collaboration protocol was concluded by and between Banque Misr – represented by Mr. Akef El Maghraby, Vice Chairman of the Board, South Cairo Electricity Distribution Company – represented by Mr. Mohamed Mahmoud El Sisi, Chairman and Managing Director and Fawry Dahab Company – represented by Mr. Walid Al Sayed, Chief Executive Officer. The protocol aims to provision electronic collection services for all services offered by SCEDC within the greater Cairo area, by providing the company with a system of electronic payment devices, equipped with a GPS feature, in collaboration with Fawry Dahab company.

The conclusion of this protocol comes in line with the strive by Banque Misr to facilitate payments and provide subscription payments / charge cards for pre-paid / smart electricity meter invoices – in cash or via banking cards – through POS devices, BM Wallet or other wallets, using the QR Code and “Meeza” digital network, which is the national mobile wallet network. Within the same context, a contract was signed by and between Banque Misr and SCEDC for provisioning electronic payment services through the company’s website.

Commenting on this collaboration, Mr. Akef El Maghraby – Vice Chairman of Banque Misr – noted that it comes within the framework of the Bank’s adoption of the concept of digital transformation and innovation, hence the importance of incorporating technological principles into the services rendered by both Banque Misr and Fawry Dahab company. This is in order to better serve customers, expand the reach of electronic payments and offer them to various social segments, for the purpose of facilitating payments required from Egyptian citizens. Doing so, added Mr. El Maghraby, would contribute to fulfilling the goals of financial inclusion as a national state objective, while being aligned with the policies of the National Council for Electronic Payments, which seek to promote the use of electronic payment means and channels instead of the utilization of cash.

On his part, Mr. Mohamed Mahmoud El Sisi – Chairman and Managing Director of SCEDC – reiterated the importance of activating and driving the use of electronic payments, while simultaneously limiting reliance on banknotes. He asserted SCEDC’s support of the efforts exerted by the state – especially in light of current circumstances – in the field of utilizing smart, cashless payments and transactions to mitigate the spread of COVID-19 and realize the targets of financial inclusion. Mr. El Sisi alluded that SCEDC is seeking to enhance the awareness of the public in order to facilitate the success of the electronic payment system.

On a similar note, Mr. Walid El Sayed Mohamed Ahmed - Chief Executive Officer of Fawry Dahab company – commended the collaboration with Banque Misr in delivering POS devices to SCEDC, so that these may be utilized as a primary means of collection by the company’s collectors.

Mr. Ahmed Fouad Mosallam – Head of Commercial Affairs Sectors at SCEDC – noted that 2,000 POS devices are to be distributed to SCEDC sectors, for circulation to all SCEDC outlets and collectors, through which payment / charge of pre-paid / smart meter invoices can be made.

Worth noting is that Banque Misr continuously strives to support digital transformation efforts by offering electronic solutions that facilitate customer transactions, in order to contribute to the provisioning of banking and financial services in a more seamless and advanced manner. The Bank seeks to improve its services, maintain its long-term success and effectively participate in offering services that consistently 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.