e&Group and Mastercard had announced a region-wide strategic partnership the previous week and boosting this partnership is the partnering of Etisalat by e& Egypt, a leading tech-telco operator who has recently joined Mastercard to redefine digital experience and commerce for its e-wallet, Etisalat Cash, for customers across Egypt. The wallet will enable secure payment experiences for millions in the country.
Industry sources added that Etisalat by e& Egypt will leverage Mastercard’s technology and digital assets to create innovative open payment solutions. Customers can also create an Etisalat Cash e-wallet on their mobile phones to facilitate a host of seamless digital transactions.
This strategic partnership with Etisalat by e& Egypt supports Egypt’s digital transformation that will further drive financial inclusion across the country. Industry sources further added that this partnership falls within the framework of Etisalat by e& Egypt’s strategy that puts customers at its core and views the provision of the latest and most secure services as one of its priorities. This strategic partnership is expected to make great strides in advancing the evolution of commerce in the local market.
“As a global pioneer in payment innovation and technology, Mastercard is enabling e& vision to digitize societies and transform consumer experience across multiple markets. Our partnership with Etisalat by e& Egypt will provide a seamless digital experience and foster greater adoption and usage of digital payments to further drive financial inclusion in the country,” said Amnah Ajmal, Executive Vice President, Market Development EEMEA, Mastercard.
“Our new strategy, inspired by e&, focuses on integrating communication services with technology in a way that provides people with distinctive services and innovative solutions. Our latest cooperation with Mastercard as part of our long-standing strategic partnership represents a significant milestone in the execution of the group strategy,” said Ahmed Yehia, Etisalat by e& Egypt CCO.
Industry sources further confirmed that the Etisalat Cash wallet allows clients to issue a virtual card seamlessly and complete day-to-day payments with just one click, powered by Mastercard technology. Users can transfer money to and from any mobile number in Egypt from any telecom provider, shop online locally and internationally, pay bills, recharge their mobile credit, withdraw cash from ATMs, and complete merchant payments. The e-wallet can also be used to pay for government services and is available even to customers who do not have a bank account.
As more people enter the financial mainstream, money management tools and solutions become even more critical to macroeconomic growth. Mastercard is creating a future where payments keep pace with the way one lives, works, and does business, accelerated by the rapid transition to digital solutions and offerings.
For more news and updates on Mastercard refer:
Mastercard and NBE to offer new digital payment solutions
Mastercard partners with Infinios
Mastercard and Banque Misr partnership boosts Egyptian Digital Payments System
