Friday, January 11, 2019
I wrote - Manal al-Masri:
Alaa Farooq, chief executive of retail banking at the National Bank of Egypt, told Lamasrawi that the bank has decided to issue a prepaid card next Sunday to customers.
It is the first national brand card to be launched by the government in order to reduce cash circulation, automate payments and achieve financial coverage.
Farooq pointed out that NCB issued the first national prepaid debit card called "Myza Card" during June 2018 as part of the pilot phase to launch the product in coordination with the Central Bank of Egypt and Banque Misr.
Any citizen can obtain and receive a prepaid card immediately with a personal identification document and simple administrative expenses.
According to Alaa Farouk, the bank does not need any citizen to open a bank account to get a prepaid card. Any customer can obtain a prepaid card from the age of 16 years, in a form of proof of identity and charge the customer in cash according to his needs from any branch or ATM.
He pointed out that there is a direct relationship between the quality of the product issued for the card, and among the procedures and documents required, there are also direct debit cards that require the existence of an account to be deducted in transactions, and salary cards that are paid by the way and which will be introduced by the bank as a second phase in the coming days .
Farouq pointed out that Meeza cards in general will allow safe online shopping and payment for all local payments, especially government, and also allow its customers to deposit service whether to recharge the card or deposit in the accounts bound to it.
Meeza enables the holder to free cash from their balances through the local ATM network, and will enable its holders to pay government payments electronically and securely, as well as to make purchases through a wide network of different merchants with POS.
The bank plans to issue one million cards during the first year of offering the product to different segments of customers, according to Farouk.
Farouk pointed out that all ATMs and POS machines at merchants are ready to use a debit card or buy and shop online.