Payments News

On The Web

nbsp;

Global

How Egyptian Startup Raseedi Is Helping Mobile Users Save Money – Disrupt Africa

“Egyptian startup Raseedi, a self-described “social fintech” solution, claims to be building the largest network of underbanked customers who want to communicate, save money and find easy financing without a formal credit history. Founded in 2018 by Ahmed Atalla and Samuel Samy, Raseedi has developed a mobile application that helps users make calls at the […]
nbsp;

Global

Digital Payments Firm Strikes Gold in Egypt, Where Cash is King

“An Egyptian digital payments firm has quadrupled in value during the pandemic, helped by a government push to reduce citizens’ heavy reliance on cash. Investors and analysts are split on whether the stock rally has further legs. Fawry for Banking & Payment Technology Services SAE debuted on Cairo’s exchange just over a year ago. A […]
nbsp;

Global

Egypt Switches to Digital Payments

“Despite people’s concerns over the digitization of payments, Egyptian Minister of Finance Mohamed Maait affirmed April 16 that the Egyptian government is to implement the E-Payments Act as of May 2019.  On March 11, Egypt’s parliament voted in favor of the E-Payments Act, which regulates cashless payments. The law includes 13 articles requiring all government, […]
nbsp;

Global

Egypt Uses Electronic Payment Of Dues Exceeding LE 100K

Minister of Finance Mohamed Ma’it issued a ministerial decision to oblige people dealing with various government agencies to pay their financial dues, including tax and customs of more than LE 100,000 through one of the electronic payment methods. The minister added that the decision allows the payment of dues less than LE 100,000 through checks, prohibiting […]