NBE andEtisalat launch "Flous", firstever Arabic mobile money implementation

Tweet: #MasterCard and EBC introduce Egypt's Mobile PaymentGateway bit.ly/10CkTES

Cairo, 25 June 2013

MasterCard, National Bank of Egypt (NBE) and Etisalattoday announced the launch of the mobile payment wallet in Egypt, which willbring Etisalat Egypt's subscriber base safe and convenient payment servicesthrough the power of their mobile phones. The newly introduced program is an earlyimplementation of the Mobile Payment Solution that MasterCard and Egyptian Banks Company (EBC)introduced to this 94 million mobile users market and represents the world'sfirst ever interoprable Arabic mobile money program.

"Flous", which means money in Arabic, will use the Etisalatmobile network and can be deployed on any mobile phone. The first phase of thisprogram will allow subscribers to transfer money to anyone participating in theservice using their mobile phones, and to load cash on their phones or take outcash through over 100 of Etisalat's branchesand 305 of NBE's branches across Egypt. This represents a new era for mobileusers as the service will be the fastest, most convenient and secure moneytransfer channel in Egypt. The second phase of the program will allowsubscribers to pay their bills through their mobile phones, top up their mobileprepaid lines, and pay for goods and services at several merchants' locationsin Egypt, in addition to using it for e-commerce payments globally.

Commenting on thislandmark announcement, Mohamed Kamel Bayoumi, Managing Director, EBC said "We have chosenMasterCard to partner with us on this transformative mobile money program tobenefit from their global experience as they have successfully implemented morethan 30 such programs around the world. Our objective, together with theCentral Bank and the Government, is to bring financial services to thefingertips of each and every Egyptian. This collaborative initiative will allowus to achieve that."

"Etisalatconnects people from around the world, and we have developed some of theworld's most advanced networks by constantly adding value to theinfrastructure. Mobile phones can be used for far more than calls and messages.In a world where smartphones and mobile browsing have become commonplace, it isonly natural that mobile devices be used to conduct everyday transactions,especially with their current levels of penetration in the Egyptian market"said Eng. Saeed AlHamli, CEO, Etisalat Egypt.

"As the largest commercialbank in Egypt, NBE has been working with our partners for many years to ensurethat Egyptians have access to the latest and most advanced payment methods. Weare now reaching the threshold that will change the way consumers go abouttheir everyday banking needs. We are pleased to announce that we are openingthe doors for consumers to utilize the power of mobile payments as analternative to traditional payment solutions to conduct faster and moreconvenient transactions," said Sherif Elwy; Vice Chairman, NBE.

"MasterCard is committed to providingthe Egyptian market with payment solutions that meet the needs and expectationsof all consumer segments. With 65% of the population lacking access to formalbanking, the mobile phone is rapidly becoming the method of choicefor making payments and managing money. MasterCard customized this solution in cooperation with EBC and inaccordance with the Central Bank's mobile payment regulations, thus creating a worldof opportunities for underserved communities. MasterCard congratulates bothEtisalat and NBE for being the first movers in Egypt to leverage this landmark solution"said Michael Miebach, President, Middle East and Africa, MasterCard.

-Ends- 

About EBC
Egyptian Banks Company for TechnologicalAdvancement, SAE, www.egyptianbanks.com">www.egyptianbanks.com, was founded in 1995 with avision of spreading the electronic payments culture to reach a cashlesssociety. EBC provides infrastructure to fulfill Egyptian banks sectorrequirements to serve the ultimate beneficiary, mass clients. In 2008 the CentralBank of Egypt and the Ministry of Finance acquired 54% of EBC's shares while46% remains with the founder banks. CBE has directed EBC to assume theresponsibilities of the national inter-bank payment systems in Egypt byimplementing and operating the following:

-   The Debit CardScheme and Shared Cash Networks (123).

-   The AutomatedClearing House (EG-ACH).

-   The MobilePayment Network.

About NBE 
The National Bank of Egypt (NBE) is independently rankedas the leading arranger of syndicated loans in the Middle East and North Africa-- and is Egypt's largest lender to SMEs. With a market share of more than25%, our 16,000 specialists serve 5 million clients, from individuals andstartups to national giants and multinationals at 259 locations nationwide.Founded in 1898, NBE is the first commercial bank in Egypt and has led theEgyptian banking sector for 115 years, most recently with decisive actions tomaintain the country's liquidity following the January 25 Revolution. The bankhas a 338 -strong networkof branches and outlets and more than 1520 ATM terminals. For more information, please visit http://www.nbe.com.eg">www.nbe.com.eg.

About Etisalat 
Etisalat Misr is asubsidiary of Emirati Etisalat Group. It started its operation in Egypt in2007, and in a very short time, was able to become an important market player.It is leading the Egyptian market with its innovative products and services,and has had major milestones.

About MasterCard
MasterCard(NYSE: MA), http://www.mastercard.com">www.mastercard.com, is atechnology company in the global payments industry. We operate the world'sfastest payments processing network, connecting consumers, financialinstitutions, merchants, governments and businesses in more than 210 countriesand territories. MasterCard's products and solutions make everyday commerceactivities - such as shopping, traveling, running a business and managingfinances - easier, more secure and more efficient for everyone. Follow us onTwitter @MasterCardNews, @MasterCardMEA jointhe discussion on the Cashless Conversations Blog and subscribe for the latest news.

Contacts:
Sami Lahoud, MasterCard Middle East & Africa, mailto:sami_lahoud@mastercard.com">sami_lahoud@mastercard.com, +97156 216 9273

Ghada M. ElRayess, National Bank of Egypt, mailto:ghada.elrayess@nbe.com.eg">ghada.elrayess@nbe.com.eg,+20 2 2594 5000 IP 1219

AhmedKamal Aly, Etisalat Egypt, mailto:ahmed.aly@etisalat.com">ahmed.aly@etisalat.com,+20 1 1110 04001

© Press Release 2013