Banque Misr signs e-payment cooperation protocol with Zoomcar Egypt

26 / 01 / 2022

By Ahmed Abdel Qawi - - | Edited by Marwa Nassar

Banque Misr has recently signed a cooperation protocol with Zoomcar Egypt within the framework of the bank’s pioneering role in e-payment.

Head of Branches and Retail Banking of Banque Misr Ihab Dorra signed the cooperation protocol with Zoomcar Egypt Vice President and Country Head Hany Olama.

Under the protocol, Banque Misr provides integrated e-payment solutions for the company, including various e-payment services on Zoomcar Egypt website or mobile application via banking cards, BM Wallet, or QR Code.

Zoomcar Egypt offers its services through its platform which is easy to use with an aim to help people to safely and smoothly reach their personal transportation. People can rent cars via the application at affordable prices.

As for car owners, they can register the car for rent, then they can get a free car check for the car to be used in trips, so that the owner can obtain a satisfactory financial return with maximum flexibility and insurance covering up to 100% in case of damage in accordance with relevant terms and conditions.

Dorra said the signing of this protocol stems from Banque Misr’s belief that technological development represented in websites and smartphone applications has become one of the most fast changing factors affecting the global economy. Pursuing this development has become a very important matter and even imperative to promote growing economy and support technology companies that have become an integral part of the national economy.

Banque Misr signed this protocol within the framework of its pivotal role in providing e-services and all e-payment solutions in order to support the Egyptian state’s efforts to achieve financial inclusion. Therefore, the bank seeks to localize advanced technological services to ensure coping with global development in various domains.

Olama expressed happiness about this partnership, adding that “Zoomcar Egypt plans to inject dlrs 25 million investments into Egypt under expansion plans.”

The company started operation in Cairo and seeks to expand its activities to other governorates and cities, including Alexandria, Sharm El Sheikh and Hurghada, Daqahlia, and Gharbia in 2022.

The company is happy to cooperate with Banque Misr as an optimal partner in this expansion phase in view of its long history in the Egyptian market and distinguished expertise and potentials, especially in the digital financial technology domains.

This cooperation would further promote Banque Misr’s success in the field of e-payment, he said, noting that Banque Misr is the first bank to provide the e-payment service through its e-payment platform, which allows all agencies, bodies and companies to use e-payment via the internet and mobile phone.

Banque Misr has also taken the lead to provide e-payment services through the QR Code; And that is through the Meeza Digital network, the national converter for mobile phone wallets, as well as the first bank to provide a withdrawal and deposit service for electronic mobile phone wallets through its ATM network, in order to enable individuals to transfer money through their e-wallets on the mobile phone and withdraw the money.

Banque Misr launched e-banking services for its customers via a mobile phone, and is one of the first banks to provide a mobile payment service through the “BM Wallet” application.