16 September 2019 02:37 PM

Plans to make New Administrative Capital 1st Egyptian cashless city

Saturday، 16 February 2019 - 10:54 AM

Egypt plans to make the New Administration Capital the first cashless city in the country, as part of the country’s endeavor to support the financial inclusion.

In this regard, Minister of Communication Amr Talaat met with Vice Chairman and President, Strategic Growth for Mastercard Michael Froman, where their talks focused on the investmant plans for the giant company in Egypt in the field of electronic payment and collection in the governmental departments.

During the meeting, Talaat stressed the importance of benefiting from company’s experiences in order to meet the country’s strategic plans and initiatives for turning into a cashless society.

The minister cited the projects being carried out by the Ministry of Communication to build a safe and secure technological infrastructure, which could support the country’s financial inclusive initiative, in cooperation with Central Bank of Egypt.

The move should encourage the e-commerce, as part of plans to make Egypt a regional hub for such cross-world industry and the mounting global growth for these trade activities, Talaat added.

For his side, Froman expounded Mastercard’s plans, aimed at supporting the technological infrastructure in the New Administrative Capital, to meet the governmental plans to be the first cashless city in Egypt.


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