National Bank of Egypt Acquisition for 60% of electronic commerce in Egypt.
Mohamed Jamil, head of the retail sector and retail sales at the National Bank of Egypt, revealed that it accounts for about 60% of e-commerce in Egypt, indicating that it accounts for 47% of the total electronic payment machines “POS”.
He confirmed that the total machines in the Egyptian market amount to about 700 thousand, explaining that the National Bank has about 325,000 “POS” machines.
“The National Bank owns about 36% of credit cards in Egypt through about 16 million various cards” he said.
Jamil pointed out that the National Bank is launching new digital solutions to convert merchants’ smartphones into electronic payment points “POS” to facilitate financial transactions and reduce costs with a new experience.
He explained that the Central Bank’s initiative to distribute points of sale for digital transactions contributed to the recovery of online market purchases, in addition to the spread of electronic payment machines.