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Banque Misr signs a cooperation protocol with 6th of October University to provide it with an electronic payment system

Friday, December 06, 2019

by Banque Misr

Banque Misr recently signed a cooperation protocol with 6th of October University, one of the largest private universities in Egypt with 14 faculties and more than 24,000 students, to provide it with an electronic payment and collection system. Mrs. Hind Abdel Hamid, Head of Banking Retail in Banque Misr, and Prof. Dr. Gamal Samy, President of 6th of October University, signed the protocol in the presence of Mohamed El Etreby, Chairman of Banque Misr, Prof. Dr. Ahmed Zaki Badr, President of the Board of Trustees of 6th of October University and an esteemed group of the bank leaders and university faculty. This gives the students the chance to pay their fees by using prepaid cards (Meeza) which the bank issues for free for the students. The students can pay online via the internet or in the points of sale (POS) that the bank offers in the university campus.

The bank is going the extra mile to provide the university with all the necessary tools to support this service through state-of-the-art ATM machines on campus, in addition to electronic payment screens that will enable the university to pay its taxes and insurance fees. That's not all, the bank is also currently taking the necessary measures to open a branch in the university campus to serve its faculty, employees, and students.

This step is part of Banque Misr's expansion plan in the online collection field, and comes in support of the state direction towards financial inclusion, electronic payment and collection, and the gradual transformation to a cashless society. In addition to 6th of October University, the bank has also signed cooperation protocols with around 23 public and private universities; including Cairo University, Ain Shams University, Banha University, Damanhour University, Suez Canal University, Asyut University, and Sohag University.

Furthermore, Banque Misr has lately achieved incredible progress in the electronic payment field. An integrated system for the automation of government payments is now in place. This includes payments that target the state administrative body through the automation of salaries, and collection of government dues (taxes and customs) through the automation of payments. The bank has also updated its methods and technologies and spread them through its branches covering the republic - more than 650 branches. And in line with the latest development in the Egyptian market, the bank provides companies with the opportunity to pay their government payments at their own premises using the Corporate Payment Service (CPS) via the internet.

This leap forward is a continuation of what the bank has already established in the electronic payment cards field as the first bank to offer these types of services to its customers which were developed by using the most recent international systems in the electronic payment technology field. Thanks to these advanced technologies, Banque Misr managed to become the first bank in Egypt that complies with the Payment Card Industry Data Security Standard (PCI-DSS). On an important related note, the number of payment cards (credit - debit - prepaid - salary) issued by Banque Misr is almost 6 million cards.

As could be expected, Banque Misr is proving its commitment to providing its customers with new and distinguished services in the electronic payment field as well as other banking fields in aspiration of fulfilling their needs and facilitating their banking experience.

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