Egypt’s E-Finance and Bahwan CyberTek announced that the electronic payment services at Cairo was operational in its first phase and the first set of 293 pensioners were paid through the system on the first day of the operation.
E-finance is the new Electronic Bill Presentment and Payment (EBPP) service provider in Egypt. E-Finance is a joint venture created between National Investment Bank, Raya Holding, National Bank of Egypt, Banque Misr, and Egyptian Banks Company (EBC).
The purpose of this company is to provide electronic payment services operation to the Egyptian government and other entities, in order to consolidate the payments and receipts to and from the Egyptian government. The E-Pay system is part of the process of establishing a National Payments Gateway in Egypt to enable various business and government institutions and ministries to enrich the provided e-services and accept e-payments, and to add new payment channels and methods in a way that conveniently caters for the vast majority of potential payers (citizens, companies, etc).
Bahwan CyberTek is a leading provider of Government payment solutions. “On the back of our platform being used by Dubai’s E-Government this is a significant milestone for us in our emerging and unfolding Government payments business. We are pleased to be partnering with E-Finance in Egypt as we move ahead to implement the subsequent phases of this project in the next couple of months”, said Raju Ramesh , Chief Operating Officer of Bahwan CyberTek.