April 162013 Egypt Independent Electronic payments in Egypt are on an uptrend and according to a recent study this contributes directly to overall economic growth A global study conducted for Visa by Moodyrsquos Analytics found that the growth in the use of electronic payment products added 983 billion to the Gross Domestic Product GDP of 56 countries examined between 2008 and 2012 Over the five years the study found that GDP in those countries grew by an average of 18 percentage points In Egypt a growth in card usage contributed 299 million to GDP according to the Visa study ldquoWe can see from the data that the positive impact ...[...read more]

Comviva the global specialist in providing mobile financial and VAS solutions to network operators and financial institutions worldwide announced that it clearly leads the electronic topup market in Egypt for its PreTUPS electronic recharge solution Used by over 67 million subscribers out of the total 815 million prepaid subscribers in the country Comvivarsquos PreTUPS is a market proven electronic recharge solution that handles around 1 billion recharge transactions annually in the country Comviva is a world leader in the provision of electronic recharge solutions with its PreTUPS platform and suite of applications now deployed in over 56 ...[...read more]

MFW4AORG The Tunisian Mail La Poste Tunisienne has entered a partnership with mobile phone operator Tunisiana to launch a new mobile banking service in Tunisia The Tunisian Mail La Poste Tunisienne has entered a partnership with mobile phone operator Tunisiana to launch a new mobile banking service in Tunisia Called Mobiflouss it is a new mobile payment solution in Tunisia and will be accessible to all owners of the eDinar card from La Poste whether they own a bank account or not Users of the new service will be able to transfer money pay for bills and goods and check their bills from their mobile phone La Presse reports The new platform...[...read more]

Moroccan leader in international money transfers and BICS part of the Belgacom Group and a prominent international provider of Voice Messaging Roaming Connectivity and Mobile Financial Services announced today that they have launched a new remittance corridor between Belgium and Morocco Through this deal people living in Belgium will be able to use their mobile phones to remit money instantly and cost effectively to their relatives and friends anywhere in Morocco where they can collect the money at one of the 500 agent locations of Wafacash The remittance transactions to the 500 agents of Wafacash are facilitated through the HomeSend remitt...[...read more]

Credit Agricole Egypt announced that it would be expanding its mobile baking services the Middle Eastern News service Bawaba reported last week Credit Agricole Egypt CAE announced that they would increase their mobile banking services to include SMS alerts Bawaba reported that customers would be able to receive short text messages periodically or following major events The eventrelated notifications include events such as withdrawals transfers the maturation of securities and overdraws Mobile banking could revolutionize banking in the developing world In 2010 the Financial Times reported that 70 percent of the population in BRIC countr...[...read more]

Desmond Shephard As the line at a local Vodafone shop gets bombarded by hands flying in front of faces shouts at the lone man handling SIM cards and other mobile devices it appears there is a major demand for telecom operations in Egypt Earlier this year the telecom industry was hit hard after the government forced them to shutdown in the midst of protests that ousted the former regime Since then the struggle to maintain profits has become the focal point for the operators but now despite less than one in 10 Egyptians owning a credit card the three telecom operators in the country hope mobile money operations will help boost revenue ldqu...[...read more]

Shereen El Gazzar Analysts estimate just 10 of population own and use credit cards In a move aimed at helping offset declining traditional voice revenues mobile phone operators in Egypt are targeting money transfer services as a potential profit generator Of the Arab countryrsquos some 80 million inhabitants analysts estimate that only about 10 of the population own and use a credit card Mobile money transfer services whi...[...read more]

Michael Gunn Ahramonline Cautious approval from the Central Bank clears the way for Egyptians to transfer up to LE3000 per day by handset to friends and family So how will it work and who will benefit Hani swears his wages were under the satellite box They were just 400 Egyptian pounds US67 mdash payment for a month of piecemeal work rigging TV dishes in the northern Cairo district of Shubra ElKheima ndash but now theyrsquod gone Sitting in his dank single room located up a muddy alley a halfhourrsquos walk from any major commercial enterprise Hani toys with the broken padlock from his door and vows to find a safer place for his mo...[...read more]