Egypt, Top News

Egypt: citizens bancarization soon thanks to their ID cards

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A partnership between the Egyptian government and the giant MasterCard should allow equipping all the citizens of the country of the Pharaohs with smart ID cards.

MasterCard announced on Tuesday in Barcelona to have negociated an agreement with the Egyptian government to provide a digital identification program connecting the Egyptian citizen ID cards with its mobile payment platform.

Thanks to this partnership, the citizens will be capable of paying their governmental taxes, invoices and shopping and money transfers also with their ID cards. Besides, salaries and welfare benefits will be electronically put back on the cards.

Financial inclusion is the background of a fairer and more sustainable economic growth“, underlined Ajay Banga from Mastercard, during a press conference organized within the framework of the world mobile telephony congress.

The minister of Communications in Egypt, Atef Helmy, would have reminded that “70 % of Egyptians are still outside the real economy, not declaring their income, reason why there is advantage of this system that will allow better collecting taxes“.

We should note that in 2013, a similar solution was set up in Nigeria.

 

Original text by:Blaise AKAME  

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