Mohamed Gamil, head of the alternative channels and retail sales sector at the National Bank of Egypt (NBE), revealed that the bank accounts for about 60% of the e-commerce transactions market and 47% of the total POS machines in Egypt.
It came on the sidelines of the launching conference of JumiaPay application as a provider of e-payment services.
Gamil added that there are about 700,000 POSs in Egypt, of which about 325,000 machines provided by NBE. In addition, the NBE provides about 36% of credit cards in the Egyptian market, estimated at 16 million cards.
He revealed that the NBE is launching new digital solutions to convert merchants’ smartphones into POS to facilitate financial transactions and reduce costs.
During the conference, Ashraf Attia, the Co-Founder of Zbouni platform, said that the platform has been operating in the Gulf region for three years, and serves 6,000 merchants currently in the UAE, Saudi, and Jordan markets. He pointed out that the platform had started its activity in Egypt two months ago.