Back to the complete issue
Thursday, 27 September 2018

National debit card “Meeza” will be rolled out by December

**#3 State-backed debit card “Meeza” to roll out nationwide by December: The central bank plans to roll out a national debit card, named “Meeza,” by December, the central bank’s Sub-Governor for Payment Systems and Business Technology Ayman Hussein said yesterday, Al Ahram reports. Pensioners will be among the first to access state benefits through the cards, which will also be used to electronically deliver payments to civil servants and subsidy recipients, Hussein said. The government will also roll out by mid-2019 a contactless payment card which will be particularly useful for quick and low-value transactions such as paying for transportation, according to Hussein.

Background: We had reported last week that the Finance Ministry is preparing to roll out a national debit card system through state-owned banks as part of its new e-payments drive. The state is also reportedly planning to introduce ATMs and point-of-sale (PoS) terminals at which people would be able to pay bills and fees for various government services. The push for digital transition and financial inclusion policies comes as the government moves to make e-payments mandatory in January and grant incentives for their use. The House of Representatives had approved amendments to the Accounting Act that ban the use of paper cheques for transactions above a set threshold and make it mandatory for all government transactions to be electronic.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.