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Being a pioneer of electronic collection transactions and a major player in the field of electronic cards and services, Banque Misr recently signed a cooperation agreement with the Petroleum Commercial Services Company (Petrotrade) – a leading company spe
12/04/2021

Being a pioneer of electronic collection transactions and a major player in the field of electronic cards and services, Banque Misr recently signed a cooperation agreement with the Petroleum Commercial Services Company (Petrotrade) – a leading company specialized in the collection of gas bills – to develop and expand electronic collection services, for all services rendered by the company, which owns more than 70% of the market share of gas bills in Egypt. Through this protocol, the Bank provides POS devices at the Company’s premises, while accepting all types of cards and online wallets through the website and the mobile application, Petrometer, which is considered the first application in Egypt for reading meters using mobile cameras. The customer simply enters his data, following which the invoice value appears, which can then be paid using cards or online wallets via QR Code. Pursuant to this collaboration, Banque Misr allows the acceptance of all banking cards, through the mentioned channels, in addition to providing “interactive kiosks” that are electronically linked to its POS.

The collaboration is a continuation of the electronic collection services offered by the two parties a year previously, through which retail payments are accepted by the Company via BM Wallet and other online wallets via QR Code. The agreement comes in light of Banque Misr’s strive to expand the use of online payments and make them available to all social segments, in order to offer convenient transactions to users and beneficiaries. It also contributes to fulfilling the aims of financial inclusion as a national state objective that is aligned with the policies of the National Council for Electronic Payments, which call for promoting online payment means and channels instead of cash. Worth noting is that this endeavor will allow more than 8 million citizens to pay for subscriptions and services offered by the Company.

This comes as a step among numerous successful endeavors by Banque Misr - a pioneer in rendering electronic collection services via QR Code and Meeza Digital network, while being the first bank to offer withdrawal and deposit services for mobile wallets – via its network of ATMs. This is to enable individuals to transfer cash through their electronic wallets and withdraw the funds instantly; whereby Banque Misr is considered the first to have offered payment via mobile, through its BM Wallet.

Banque Misr always strives to support digital transformation efforts by providing innovative electronic solutions to facilitate customers' needs,  in a way that contributes to providing banking and financial services in a seamless and advanced manner. The Bank continuously seeks to differentiate its services from those of the competition, while maintaining its long-standing success and staying true to its values and strategies, which are founded on achieving sustainable development and prosperity for Egypt.