E-Banking future of banks inside, outside Egypt: Ozalp

Blom Bank Egypt launched a contactless payment service via credit and debit cards in light of its continuous development and modernisation of its banking products and services. This is in line with market requirements and customer needs as well as the mechanisms of technological development and digital services.

This feature provides the possibility to easily make payments without the need to insert the card into the point of sale (POS), where it is one of the latest modern payment technologies, and is currently used in most countries of the world to provide speed and facilitate the completion of small purchases.

Through this feature, Blom Bank credit and debit cardholders will be able to make payments up to EGP 300 for Visa and Mastercard cards without entering the PIN, by simply swiping the card over the payment devices to complete the process in seconds.

In case the purchase value exceeds the maximum limit, the customer will only enter the PIN to verify his or her identity. When the transaction is completed, an audio signal will be heard indicating the completion of the transaction. The customer will also receive a text message confirming the purchase details.

Managing Director and CEO of Blom Bank Egypt, Mohamed Ozalp, said that the bank attaches great importance to technological expansion and electronic banking services, considering it the future for banking operations both inside and outside Egypt.

He added that the bank seeks to provide its customers with products that match the latest modern technologies used in various countries of the world to facilitate their transactions, wherever and whenever.

'We are delighted to launch the contactless payment service, which aims to enhance non-cash payments within the framework of development, and to keep pace with the state's move to a less cash-based society in order to achieve financial inclusion through multiple electronic channels," Ozalp said.

Blom Bank Egypt is preparing to launch the new Meeza card in September, which is a new payment tool. Its purpose is to facilitate for citizens their government payments and use it for all their purchases through the available POS terminals.

The launch of this service coincides with the modernisation of various bank card designs, in order to enhance the bank's identity, which is characterised by continuous development, speed, performance, and excellence, Ozalp said.

The design of the debit cards has been incorporated into the forms of purchase indications, in order to raise awareness and promote their use by point of sale and not only to withdraw cash from ATMs as is customary.

In the past, Blom Bank has been working on the development of mobile payment services and internet banking, and the launch of the Blom 'e-wallet' service last year to provide an easy and secure payment method for customers. This way customers can pay many types of bills through the Fawry service and transfer funds between different bank portfolios.

The bank also activated the payment of government payments through all Blom Bank Egypt cards, and activated the acceptance of all Meeza cards on the bank's ATMs.