Banque Misr signs MOU with MoneyFellows to ease digital payments

By Leandra Monteiro

Banque Misr has signed an MOU with MoneyFellows in order to provide more FinTech Services, easing digital payments, and increasing the trust between the users and the application. Through this partnership, Banque Misr will be providing MoneyFellows with payment services to develop together new disbursement, collection tools that suit the needs of online money circles’ users.

In the field of payments, the bank provides electronic payments service which enables the company’s customers to pay the amount due electronically with bank cards or mobile wallets via the QR Code.

Mr. Ihab Dorra, Banque Misr Head of Branches and Retail Banking said, “This cooperation will be a quantum leap in the world of FinTechs. A major contribution to the expansion and spread of MoneyFellows Services, and a documentation of the extent of cooperation between Banque Misr and the SMEs and its extreme support for digital transformation and unbanked citizens. The new collaboration showcases Banque Misr’s commitment to supporting various entities and FinTechs. Along with its rapid adaptation to this era’s requirements and contribution to the digital transformation.”

Ahmed Wadi, the Founder & CEO of MoneyFellows said, “It is a great milestone in the path of MoneyFellows to cooperate with the pre-eminent giant of the banking sector in Egypt- Banque Misr. Our cooperation will certainly enhance the offered services as well as enrich our offered value proposition, and unlock the horizon of providing our customers with new services”. He also added, “Nonetheless, financially including a sector of citizens is a main direction of the State as well as Banque Misr and MoneyFellows.”

The signing of this protocol comes within the framework of the bank’s interest to adopt the concept of digital transformation as a basic pillar on which to run the bank’s business, as the service concept provided by Banque Misr must include technological basics to serve customer requirements, which have become an urgent need with the development of the use of mobile phones and computers.