Cairo, Egypt; (20 May):
The National Bank of Egypt and Mastercard have signed a tri-party agreement with Mwasalat Misr Group to revolutionize Egypt’s public transport experience. The agreement aims to digitize ticketing payments for Mwasalat Misr Group mass transit fleet – empowering commuters to seamlessly book and pay for their journeys via payment cards.
Mohamed Eletreby, Chief Executive Officer of the National Bank of Egypt stated that this collaboration reflects the National Bank of Egypt’s unwavering commitment to accelerating digital transformation within crucial service sectors, notably mass transit. He emphasized that by automating fare payments for Mwasalat Misr fleet through digital platforms and point of sale devices within the vehicles – facilitated by the National Bank of Egypt, this initiative aligns with international best practices and is designed to enhance the overall commuter experience.
He emphasized the National Bank of Egypt’s ongoing commitment to enhancing its digital services to cater to the diverse needs of its customer base. Furthermore, he highlighted the bank’s active role in expanding digital payment solutions across various sectors, which has a positive impact on the national economy and contributes significantly to fostering a society that relies less on cash transactions”.
Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa (EEMEA) at Mastercard, commented: “This collaboration underscores Mastercard’s commitment to accelerating Egypt’s digital transformation by driving digital payment acceptance and creating more convenient ways to pay.
Public transportation is a key sector and by enabling efficient digital fare payment experiences we are simplifying commuters’ journeys on public transport and meeting the evolving needs of the public for a seamless, secure and efficient mass transit experience”.
He continued: “Mastercard has been driving transit digitization efforts globally, including in major cities like New York, Pakistan, Singapore, and São Paulo, by modernizing transit systems and enabling card and mobile payment solutions.
We will continue to scale our capabilities through strategic partnerships to develop solutions that foster inclusive and sustainable economic growth”.
Dr. Hesham Taha, CEO of Mwasalat Misr Group, stated that the collaboration with the National Bank of Egypt and Mastercard marks a significant step in the group’s strategy to transform into a smart transportation system.
He emphasized that Mwasalat Misr Group was one of the first companies in Egypt to introduce electronic ticket payments for public transport through the “smart card,” positioning the Group as a pioneer in the field.
He added that this new collaboration will greatly facilitate passengers’ ability to pay for tickets using bank cards or smart point-of-sale (POS) devices on board public transport vehicles, offering a more convenient and faster experience for commuters while reducing reliance on cash.
He explained that this development reflects the group’s commitment to providing modern services that align with technological advancements and support the state’s digital transformation agenda.
Through this partnership, Mwasalat Misr is opening a new chapter in the digital transformation of public transportation, delivering a smarter, more convenient, and more efficient experience for millions of daily commuters.
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