Visa teamed up with Carrefour in Egypt to provide reward cardholders of participating banks with exclusive promotions and discounts. The move comes as part of the companies' aim to expand electronic payment usage in Egypt, which currently accounts for less than 2% of all purchases, according to Visa statistics. The banks participating in the campaign are the National Bank Egypt, the Commercial International Bank (CIB), HSBC Egypt, Barclays Egypt, QNB Al Ahli, and Banque Misr, according to a press release.
Cardholders can visit the Carrefour Carnival until 26 September to receive discounts and cashback vouchers when they use their Visa cards to pay for certain items. In October, cardholders will receive 10% off specified food items at the Food Fiesta, which will be offered in the form of vouchers that can be used in any Carrefour stores within 60 days. Commenting on the partnership, Tarek Mahfouz, Visa's country manager for Egypt, said: "We are teaming up with one of the country's biggest retailers to accelerate the shift from cash to cards. While this trend is still nascent, it promises to deliver enormous value to consumers, businesses, and the wider economy over the coming years. Through this partnership, Visa looks forward to working alongside Carrefour and our bank partners to make the everyday spending of cardholders in Egypt convenient, secure, and rewarding."
"We are honoured to partner with Visa and deliver even better prices and promotions for our shoppers throughout Egypt, maintaining our commitment to them of low prices with high quality and product range," commented Jean-Luc Graziato, country manager of Carrefour Egypt.
