Egypt’s banks issue 3.2mln Meeza cards until end of October

Meeza’s transactions have registered 1.5 million transaction

  
Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. Image for illustrative purposes.

Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. Image for illustrative purposes.

REUTERS/Benoit Tessier
Cairo: Egypt’s banking sector has issued 3.2 million Meeza cards until the end of October 2019, said Lobna Helal, deputy governor of the Central Bank of Egypt (CBE).

She also revealed that Meeza’s transactions have registered 1.5 million transaction amounted to 3.6 billion Egyptian pounds.

Meeza is the latest financial inclusion initiative by the Central Bank of Egypt (CBE) to push towards more cashless payments in Egypt. It aims at issuing 20 million Meeza cards within the next three years.

People can use the Meeza card without the need to open a bank account. Shopping online, making transfers and paying for different government and private-sector services are some of the merits granted to Meeza holders.

They can also withdraw cash from ATMs, pay government bills, and buy from a wide network of merchants who have point-of-sale terminals.

Meeza provides the same services offered by Visa and MasterCard, but it can only be used locally. Its holder should also have a valid balance on the card, since it is prepaid. Source: Amwal Alghad

Copyright © 2019 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Financial Services