Etisalat Launches Mobile Wallet Service in Egypt
Etisalat has launched a mobile payments wallet service in Egypt, in cooperation with MasterCard and the National Bank of Egypt.
The newly introduced program is an early implementation of the Mobile Payment Solution that MasterCard and Egyptian Banks Company (EBC) introduced and represents the world's first ever interoprable Arabic mobile money program.
"Flous", which means money in Arabic, will use the Etisalat mobile network and can be deployed on any mobile phone.
The first phase of this program will allow subscribers to transfer money to anyone participating in the service using their mobile phones, and to load cash on their phones or take out cash through over 100 of Etisalat's branches and 305 of NBE's branches across Egypt.
"In a world where smartphones and mobile browsing have become commonplace, it is only natural that mobile devices be used to conduct everyday transactions, especially with their current levels of penetration in the Egyptian market" said Eng. Saeed AlHamli, CEO, Etisalat Egypt.