North Africa

In Egypt, high hopes for mobile wallets

CNNMONEY MARCH 302014 North Africa and the Middle East have been sluggish to join the mobile money revolution a movement that is transforming economies and delivering financial inclusion to the unbanked across the developing world Thats particularly true when you compare the regions progress against subSaharan Africa which has nearly 70 of the globes 82 million mobile money customers according to the GSMA a Londonbased trade association representing some 800 wireless carriers However Egypts financial institutions and mobile network operators expect to change all that with the launch of at least four different mobile wallets in less than...[...read more]

Filed Under North Africa

Morroco:Xpress Money Joins Hands with Banque Populaire (BP)

DEC 122013 CPIFINANCIAL Xpress Money has announced its collaboration with Banque Populaire Moroccos leading financial institution to offer remittance services in Morocco This tieup will bolster Xpress Moneys presence in Morocco where customers will be able to access the service at over 1200 locations of Banque Populaire BP across the country Morocco is a key remittance receiving market in North Africa receiving money remittance chiefly from European and Gulf countries Through this collaboration with BP Xpress Money will be able to offer its CashtoCash and Cash to Account services in Morocco Remitters can send money back home by wa...[...read more]

Filed Under North Africa

Egypt:Political turmoil hits mobile money transfer market

July 292013 Daily NewsEgypt Walid Abd alAdhim and Sara Aggour Recent turmoil and political instability have taken a toll on mobile phone money transfer services concluded a report by Banks and Finance Hazim Higazi chairman of the Retail and Branches Division within the National Bank of Egypt NBE said that the bank in cooperation with the telecommunications company Eitsalat first began to offer mobile phone money transfer services towards the end of last month describing it as a new modern service being offered on the market Low rates of usage for the service were the result of political turmoil Higazi said adding many are unaware of ...[...read more]

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MasterCard and EBC introduce Egyptís Mobile Payment Gateway

June 252013 NBE and Etisalat launch Flous first ever Arabic mobile money implementation MasterCardNational Bank of Egypt NBEand Etisalattoday announced the launch of the mobile payment wallet in Egypt which will bring Etisalat Egypts subscriber base safe and convenient payment services through the power of their mobile phones The newly introduced program is an early implementation of the Mobile Payment Solution that MasterCard and Egyptian Banks Company EBCintroduced to this 94 million mobile users market and represents the worlds first ever interoprable Arabic mobile money program Flous which means money in Arabic will use the...[...read more]

Filed Under North Africa

Visa finds positive correlation between e-payments and econo

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 Moodys 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 We can see from the data that the positive impact in economi...[...read more]

Filed Under North Africa

Comviva leads electronic recharge market in Egypt

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 Comvivas 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 opera...[...read more]

Filed Under North Africa

Tunisia: La Poste Tunisienne and Tunisiana launch mobile ban

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]

Filed Under North Africa

Wafacash and BICS launch new remittance corridor between Bel

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]

Filed Under North Africa

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