Zoomcar Egypt, Banque Misr sign new deal for e-payment solutions

ArabFinance: Banque Misr, one of the biggest Egyptian banks operating in electronic payment systems and cards, has signed a cooperation protocol with Zoomcar Egypt, under which the bank will offer integrated e-payment solutions, the company announced in an emailed statement.

The protocol was signed by Ihab Dorra, Head of Retail Banking Sector at Banque Misr, and Hany Olama, Vice President & Country Head Egypt.

Under the new deal, the bank will allow electronic collection services through Zoomcar Egypts website and mobile application using the bank cards and BM wallet as well as other electronic wallets via QR Code.

Getting engaged in this cooperation is based on Banque Misrs belief that technological development, represented by electronic websites and smartphone applications, has become the fastest among other variants that impact the global economy. Coping with the development has become crucial yet imperative for the sake of supporting the economy as well as technology companies, Ihab Dorra, Head of Retail Banking Sector at Banque Misr, commented.

However, Zoomcar Egypt plans to pump investments of US$25 million in Egypt. We started our operations in Cairo, before expanding in other provinces and cities to include Alexandria, Sharm al-Sheikh, Hurghada, Daqahliya and Gharbiya in 2022.

It is worth mentioning that Banque Misr is the first bank to accept electronic payments through its e-payment platform, allowing agencies and entities to carry out electronic collection services for their customers via internet and mobile phones.

The bank is among the leading providers of electronic collection services through QR Code using Meeza network, which transfers to mobile phone wallets. It was also the first to provide withdrawal and deposit service for mobile phone electronic wallets through its ATM network.