Banque du Caire has completed the process of connecting with the Tahweel network by launching the withdrawal and deposit service for mobile wallet clients, Cairo Cash, and all mobile wallet and mobile operator clients through the bank’s automated teller machines (ATMs), according to the bank’s chairperson and CEO, Tarek Fayed.
Fayed added that the new service will enable customers to withdraw and deposit money with a card-less card through the Tahweel network. The Tahweel network is the digital transfer moderator for mobile phone payment services, in addition it allows for instant transferring of funds via mobile wallets, in a bid to support the bank’s initiative of financial inclusion and dissemination the function of financial services.
According to Hazem Hegazy, deputy chairperson of the bank, Banque du Caire is working to provide the new service to all the bank’s clients and tour operators’ subscribers, which will enable over 13 million mobile wallets users to benefit from the bank’s ATM networks, thereby increasing financial transactions conducted via the bank’s e-wallets.
The service allows all mobile phone customers to securely withdraw money and deposit funds in their wallets, as the service requires a changing pin code through the phone application, explained Hegazy.
Banque du Caire has a network of 222 branches and 7,000 ATMs. It also plans to open 30 new branches by next year and expand its ATMs to reach 1,200 in the coming year. Furthermore, the bank additionally aims to open 20-25 new branches every year in the coming three years.
The strategic plan of Banque du Caire moreover targets to introduce ‘Mobile and Internet Banking’ services, in addition to increasing the provision of advanced digital banking services, in line with the strategy of the Central Bank of Egypt, in order to promote digital banking services, so as to achieve the main goals of developing financial inclusion.
