April 19, 2021

Banque du Caire to expand footprint in digital services

ArabFinance: Banque du Caire plans to expand its digital services to serve African and Arab markets in the near future through an e-payments arm, Chairman and CEO Tarek Fayed told Hapi Journal on April 18th.

The bank selected an unnamed regional partner to set up the e-payments arm.

Fayed confirmed that the Central Bank of Egypt approved the new arm, but did not provide further details on where it will be based.

Launching the new company will promote the growth of the bank’s customer base via providing various point of sale (PoS) terminals and using QR codes, which should promote the adoption of digital wallets and credit cards among the public

In February, the state-run bank revealed intentions to partner a foreign investor to launch an e-payment company, in which it will hold a majority stake.


Categories : banking

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