COUNTRY FOCUS: EGYPT
processes, but there is a growing
acceptance of the need to implement
flexible payment platforms to compete
with international and local banks and
collaborate with fintech disruptors looking
to increase market share.
The VolPay Suite is designed specifically
to accelerate all aspects of payments
transformation projects, including the
cost of change in local and international
financial message standards.
Mick Fennell, Vice President, Middle
East and Africa, Volante Technologies,
said: “We are delighted to partner
with eVision to extend the reach of
Volante’s payment solutions to the
Egyptian and wider North African
market. Market participants no longer
want to depend on external specialist
consultancies - they need tools to
create more agile, efficient systems
meeting the needs of a changing and
dynamic payments landscape.”
www.intelligentcio.com
Amr Soliman, Founder and CEO, eVision,
said: “When it comes to Volante’s
Microservices-based architecture, we
believe it is second to none and, unlike
legacy products their technology
enables customers to build highly
configurable and extensible business
services. Our markets are opening
up, and banks need to invest now for
the future to compete against local
and foreign financial institutions and
disruptors for real time execution, open
banking standards, and next generation
market initiatives. We are excited about
what VolPay is able to offer them.”
CIB partners with Careem Egypt to
promote e-payments
The Commercial International Bank-
Egypt (CIB), a leading Egyptian private
bank, has announced a pioneering
collaboration model with transport
company Careem-Egypt – a first for the
local market.
The new partnership provides Careem-
Egypt with an integrated set of digital
financial solutions to efficiently manage
payments to company captains via CIB
Smart Wallet. Careem staff can also
deposit and withdraw cash conveniently
from the bank’s large network of ATMs
and local authorised agents.
Moreover, the new partnership supports
the company’s management of all cash
flows and e-payments to individuals,
suppliers and governmental entities.
“Through our significant partnerships,
with Careem-Egypt, we have been
successfully able to expand our banking
penetration to the under-banked
citizens, granting them access to
various banking services by using their
mobile phones, especially in a society
where a majority of people carry
mobile phones,” said Mohamed Farag,
CIB Chief Digital Officer and Head of
Global Transaction Services.
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