Egypt’s first debit card top-ups for securities trading introduced by EFG Hermes ONE, PayTabs Egypt, Banque Misr

Daily News Egypt
3 Min Read
Ahmed Waly, Global Head of Brokerage at EFG Hermes

 

EFG Hermes ONE, the online trading platform of EFG Hermes, in collaboration with Banque Misr and PayTabs Egypt, announced on Sunday the launch of Egypt’s first debit card top-up feature for securities trading. This innovative solution allows EFG Hermes ONE customers to seamlessly fund their trading accounts using their debit cards, streamlining the investment process.

The partnership has received approval from the Central Bank of Egypt (CBE), marking a significant advancement in the accessibility and efficiency of securities trading in Egypt. The initiative aligns with EFG Hermes ONE’s commitment to simplifying the trading journey and broadening access to financial markets.

Ahmed Waly, Global Head of Brokerage at EFG Hermes, stated: “At EFG Hermes, we’re dedicated to making securities trading easier and more accessible to everyone. This partnership with PayTabs Egypt and Banque Misr embodies that commitment. By integrating a convenient debit card top-up feature within EFG Hermes ONE for the first time in Egypt, we’re breaking down barriers and simplifying the investment process for aspiring traders across Egypt.”

Ihab Dorra, Chief Consumer Banking and Payment Officer at Banque Misr emphasized the bank’s commitment to financial inclusion and providing innovative solutions tailored to evolving customer needs. He highlighted their dedication to digital banking to attract new client segments, aligning with the government’s financial inclusion strategy.

Karim Eyada, PayTabs Egypt’s General Manager, stated, “At PayTabs Egypt, we are pushing boundaries in the financial technology space continuously. This partnership reflects our commitment to providing innovative and secure payment solutions that meet and exceed our customers’ evolving needs. With introducing the debit card top-up feature, customers gain unprecedented flexibility in funding their EFG Hermes ONE accounts, thereby streamlining the securities trading process.”

This partnership is the latest in a series of strategic collaborations forged by PayTabs Egypt with leading brands. PayTabs Egypt’s impressive expansion and achievements underscore its dedication to bolstering the financial landscape in Egypt and the broader region.

EFG Hermes ONE has been recognized for its excellence with numerous awards, including “Best Trading Platform” at the Entrepreneur Leaders in Fintech Awards 2023 and “Trading Platform of the Year” at the Entrepreneur Middle East Tech Innovation Awards 2023.

 

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