Global MasterCard and Visa authorised E-Finance to issue and print e-cards for all banks and international financial institutions, members of both international organisations, through the company’s card issuance centre.
E- Finance Chairman Ibrahim Sarhan said that the authorisation comes as a result of the efforts exerted by E-Finance over the past years and a step to enter international markets that have a large share in the issuance, operating and implementation of e-cards in any projects they have.
Sarhan added that with this international authorisation, E-Finance has become the first company in its field in Egypt eligible for the issuance of all kinds of electronic smart cards for global Institutions, such as Master Card and Visa. These cards include debit, credit and prepaid cards (for salaries, instalment, or gifts).
Sarhan pointed out that the Smart E-Card Issuance Center of the company is equipped with the latest technology to be able to use all means necessary to secure customer data.
E-Finance Director of the Smart Cards Sector Mahmoud Kamal said that the production capacity of the centre is the largest in the Middle East.
Kamal added that the centre issues more than 4.5m smart cards monthly using laser carving technology, which is considered the latest and most secure, noting that all organisations and global banks rely on this technology.
Card Centre Manager Ahmed Torky said that through issuing smart cards for banks, E-Finance will provide huge investments, previously defrayed by banks in establishing card centres with the least level of production and lower quality.
Torky added that the company will have an active role in the provision of foreign currency used to import equipment and solutions for establishing the other centres in banks, in addition to increasing the speed in services performance.
E-Finance is the largest operator of the electronic payment systems in Egypt and the Middle East, with more than 600 employees in 27 Egyptian governorates. The company has implemented a number of national projects that serve the community, most notably, the support and rationalisation of petroleum products, pension disbursement, and many other projects.
E-Finance’s shareholders are the National Investment Bank (70%), the National Bank of Egypt (10%), Banque Misr (10%), and the Egyptian Banks Company-EBC (10%).
