The Egyptian government has signed a deal with MasterCard that will help drive financial inclusion in the North African nation and help improve government efficiency.
The partnership will see MasterCard bring latest payment technology innovations to the Egyptian market and leveraging on its global experience working with governments across the world, devise methods that the Egyptian government increase engagement with citizens.
“Our government believes Information and Communications Technology (ICT) plays an integral role in supporting this change and in helping us better serve our citizens. This collaboration with MasterCard will help the government bring innovative new solutions to the Egyptian population,” noted Egypt’s Minister for Communications and Information Technology Atef Helmy.
According to Mr Helmy, knowledge transfer will play an important role in the partnership and MasterCard’s expertise will be leveraged to boost innovation efforts and enhance citizen engagement. A number of innovative programmes will be implemented in the near future to help achieve these goals.
MasterCard CEO Ajay Banga lauded the partnership saying that the organisation will keep on collaborating with governments to improve the lives of the citizens. “We are always joining forces with governments around the world to accelerate positive change for citizens. We have a long and rich history in Egypt, and we are excited about the opportunity to provide more Egyptians with access to financial services,” noted Mr Banga.
As part of the agreement, MasterCard will also be working alongside Egypt Post to fully digitalize its customer base, and enable its 4,000 branches to offer electronic value-added-services, employee trainings and expert driven workshops.
This will help Egypt Post transition towards cashless payment solutions through the use of mobile phones and credit cards, ultimately improving its services and enhancing convenience.
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