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Egypt, MasterCard sign MoU to drive financial inclusion

By EDITOR
09 February 2015   |   6:43 pm
THE government of Egypt, represented by The Ministry of Communications and Information Technology, and MasterCard have signed a Memorandum of Understanding (MoU) to establish a strategic collaboration that will help drive financial inclusion and maximize government efficiency.    The MoU was signed by Egypt’s Minister of Communications and Information Technology, Atef Helmy and Chief Executive…

THE government of Egypt, represented by The Ministry of Communications and Information Technology, and MasterCard have signed a Memorandum of Understanding (MoU) to establish a strategic collaboration that will help drive financial inclusion and maximize government efficiency. 

  The MoU was signed by Egypt’s Minister of Communications and Information Technology, Atef Helmy and Chief Executive Officer at MasterCard, Ajay Banga,  in the presence of Prime Minister of Egypt,  Ibrahim Mahlab, and Chairman of MasterCard, Richard Haythornthwaite,.

  The partnership will see MasterCard bring latest payment technology innovations to market. In addition, the company will leverage its global experience working with governments across the world, to help the Egyptian government increase engagement with citizens.

   Helmy,  said: “Under the leadership of H.E. Abdel Fattah El-Sisi, Egypt has been undergoing a period of positive change. The President and government of Egypt believe that Information and Communications Technology (ICT) plays a vital 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.”

  According to the Minister, 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 programs will be implemented in the near future to help achieve these goals.

  Banga,  said: “This partnership highlights our commitment to Egypt and its people. It is crucial for us to join 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.”

   As part of the agreement, MasterCard will also be working alongside Egypt Post to fully digitalize its customer base, and enable its 4000 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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