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Telecom Egypt, Banque Misr sign pact for mobile wallet service

Telecom Egypt, Banque Misr sign pact for mobile wallet service
Customers will deposit and withdraw cash from WE’s retail stores
Telecom Egypt
ETEL
-11.85% 10.34 -1.39

Cairo – Mubasher: Telecom Egypt and Banque Misr have signed a cooperation agreement in preparation for the launch of WE mobile wallet.

The new service will enable customers to safely and securely send, receive and store money using a smartphone application, according to a company statement.

Customers will deposit and withdraw cash from WE’s retail stores and partners, along with adding and linking their Banque Misr debit/credit cards to the wallet to closing transactions without prior-approval or assistance from the bank.

The mobile wallet’s subscribers will also enjoy a plethora of electronic payment facilities including cross-net peer-to-peer transfers and person-to-merchant transactions.