MasterCard, National Bank of Egypt (NBE) in collaboration with Etisalat have rolled out their mobile payment wallet known as Flous in Egypt, which will offer secure and convenient payment services using mobile phones to Etisalat Egypt's customers. Leveraging Etisalat mobile network, the new mobile payment gateway will enable users to transfer money to anyone participating in the service using their mobile phones. Suitable to be deployed on any mobile phone, the platform will allow subscribers to load cash on their phones or take out cash through over 100 of Etisalat's branches and 305 of NBE's branches across Egypt. It further enables customers to pay their bills using their mobile phones, top up their mobile prepaid lines, and pay for goods and services at many merchants' locations across the country, as well as for e-commerce payments globally. EBC managing director Mohamed Kamel Bayoumi said that the aim of the bank is to offer financial services to each and every Egyptian. Established in 1995, Egyptian Banks Company in which Central Bank of Egypt and the Ministry of Finance own 54% stake, aims to spread electronic payments culture to create a cashless society. Set up in 1898, NBE operates as a commercial bank in Egypt and has a network of 338 branch offices and outlets and more than 1520 ATM terminals. Source: Online Banking
