MasterCard signs financial inclusion MOU with Egypt

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MasterCard is working with the Egyptian government to roll out a digital ID programme that links citizens’ national ID to the existing national mobile money platform.

At Mobile World Congress, the Egyptian Ministry of Communications and Information Technology announced details of an MOU with MasterCard that aims to extend financial services to 54 million Egyptians.

The system will allow the government to issue digital ID cards which can be used to pay for a number of services including government fees, mobile bills, merchant purchases and domestic remittances. Salaries and social benefits will also be electronically disbursed through the card.

“With Egypt’s mobile penetration rate at more than 100 per cent and an existing interoperable national mobile money platform, this collaboration withMasterCard will provide millions of Egyptians with access to an innovative, safe and simple way to conduct financial transactions using their national ID card,” said Egyptian minister of communications and information technology H.E. Atef Helmy.

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