Egypt’s Bee Mobile Wallet Integrates with the Mastercard Payments Ecosystem

Mastercard is adding Bee, the smart payment solutions provider in Egypt, as a key player to its interoperable mobile ecosystem. Bee is now fully integrated on Mastercard ecosystem to expand mobile wallets payments options. The relationship with Bee offers complete integrated solutions that allows mobile wallet users to pay directly through the application and avail…

MasterCard Powers 2MM Vodafone Cash Wallets in Egypt

MasterCard Powers 2MM Vodafone Cash Wallets in Egypt

MasterCard and Vodafone Egypt have completed the migration of two million Vodafone Cash mobile wallets to MasterCard’s open mobile payments ecosystem. The migration also enables MasterCard to power Vodafone Egypt mobile money service, Vodafone Cash, by processing all financial transactions through MasterCard’s Mobile Payment Gateway platform, which MasterCard has worked closely with the Egyptian Banks…

Egyptians Sign a Major Accord with Visa

Egyptians Sign a Major Accord with Visa

The Egyptian government, represented by the Ministry of Supply and Internal Trade and the Ministry of Planning signed a Memorandum of Understanding (MOU) with Visa, to enable electronic payment of government subsidies to 22 million Egyptian families. The MOU was signed by H.E. Dr. Khaled Hanafy, Minister of Supply and Internal Trade, H.E. Dr. Ashraf…

MC MoU w/Egypt

MasterCard plans to work with the Egyptian government to roll out a digital ID program that links citizens’ national ID to the existing national mobile money platform, allowing Egyptians to participate in the formal electronic economy through a single, easy-to-use cashless program.

Eqyptian Payments

The number of payment cards-in-force (CIF) in Eqypt hit 17.0 million in 2014, compared to 10.0 million five years ago, growing at a compound annual growth rate (CAGR) of 11.2%. The Egyptian economy is the second-largest in the Middle East after Saudi Arabia.

VeriFone Embarks on New Market with Portable Payments

VeriFone Systems announced its portable payment acceptance systems, the VX 680 and VX 675, have been deployed by e-finance to facilitate the state-sponsored transition of Egypt’s entire gasoline and petroleum products retail market to an electronic payment system. e-finance, Egypt’s first and largest payment gateway service, was awarded the modernization contract in May and has deployed one-third of an estimated 18,000 VeriFone portable payment solutions at gasoline stations throughout the country. The smart card-based system being implemented by e-finance ensures that Egypt’s Petroleum and Finance Ministries can control the quantity and value of gasoline being consumed. e-finance purchased the VX 680 and VX 675 from Systems Engineering of Egypt (SEE), VeriFone’s local distribution partner. The portable, handheld devices feature powerful processors and are designed for rugged environments where drops and spills are common and wireless connectivity options are required, enabling gasoline stations to reduce consumer wait times by quickly and reliably processing on the spot transactions, which are routed to e-finance’s gateway.

MasterCard Names Emerging Markets Payments Principal Member

MasterCard announced the appointment of Emerging Markets Payments (EMP), the leading electronic payments processing company in the Middle East and Africa region, as a Principal Member in Egypt. Through this, EMP will be able to sponsor issuers in Egypt and other African markets as Affiliates, allowing smaller issuers to offer prepaid, credit and debit cards, get access to ATMs and Point of Sale services by utilising EMP’s ability to sponsor them as Affiliates, and benefit from EMP’s technology and operations outsourcing services. The cards will offer consumers greater control over expenses and the opportunity to build the payment history.

NCR sets up ATM monitoring center in Egypt

NCR established a managed services center in the country that allows Egyptian Banks to monitor ATM withdrawals and deposits. It currently monitors 1500 ATMs for 10 banks, allowing the FIs to track the level of funds at their machines, helping them keep their ATMs more reliably available. NCR owns 12 facilities in Egypt that specialize in manufacturing and maintenance. Depending on the nature of a breakdown, the company an repair a machine onsite or send it to a repair and maintenance center and, during the political uprising in Egypt last year, 250 machines were damaged and two machines were stolen and have not been recovered. NCR ATMS account for 91 percent of the Egyptian market.

Trustwave issues Mediterranean Smart Cards PCI DSS Certification

Mediterranean Smart Cards Company (MSCC) electronic payment processing has renewed its PCI DSS Compliance certification. This marks the third consecutive year that MSCC has been granted the PCI DSS compliance certification, confirming the company’s dedication to maintaining a secure smart cards processing network in line with international standards. The compliance certificate classified MSCC as “Level 1 Service Provider” for offering a wide range of services including; authorization, switching, payment gateway, clearing and settlement, issuance processing, processing Magnetic-Stripe transactions and providing 3D secure access control server and was issued by Trustwave.