The National Bank of Egypt (NBE), the National Authority for Tunnels (NAT), and the Egyptian Company for Metro Management and Operation signed a cooperation protocol to develop an e-payment system for the Cairo Metro.
Deputy chairperson of the NBE Yehia Abul Fotouh said this protocol comes in line with the state strategy to boost financial inclusion, and attract citizens to banking services, adding that the NBE prioritises this concept in its future strategy.
The bank’s retail CEO Alaa Farouk said the protocol includes the issuance of smart cards for the Cairo Metro, and providing the NBE’s different banking services, such as point of sale (POS) machines and ATMs at the metro stations.
He added that the bank will also provide its prepaid e-payment cards for metro users, which will enable its holders to buy metro tickets, and benefit from the different mobile wallet services provided by the bank.
Farouk pointed out that e-commerce channels will also be made available through the official websites of the NBE and the Egyptian Company for Metro Management and Operation.