Cairo, Egypt — (METERING.COM) — July 4, 2006 – Visa International, in partnership with local banking sector leaders Banque Misr and the National Bank of Egypt, has today announced that GPRS electronic payments will soon become the payment method of choice throughout Egypt.
The wireless based technology enables electronic payments to be made virtually anywhere, whether in a shop, on the street, at one’s front door, or anywhere else where customers might wish to make a purchase.
The method, currently in use in the country’s City Cab project and soon to be introduced in the Metro system, is faster, more reliable and up to 50 times cheaper than any other payment method. The intention is to also extend the GPRS transaction method to local hypermarket stores and other consumer goods areas.
“The opportunities to apply GPRS point-of-sale terminals in Egypt are exponential. Visa is proud to have been able to share leadership in innovation with our local banks, and we expect to see a lot of creative retail solutions emerge as a result of it,” says Visa International Egypt’s General Manager and Vice President, Tarek Elhousseiny.