E& Egypt launches 1st instant international money transfer
Arab Finance: E& Egypt has officially launched the first instant international money transfer service through its E& Cash wallet, marking a new milestone in the Egyptian market, as per an emailed press release.
With this launch, E& Egypt becomes the first company in Egypt to allow customers to instantly receive money transfers from the UAE and Saudi Arabia.
The service uses E&'s strong regional network to provide fast, secure, and fully digital transactions, without needing to visit company branches or use middlemen.
This step supports the Central Bank of Egypt's (CBE) efforts to promote financial inclusion and make digital financial services more accessible. It also aligns with the country's goal to shift toward a digital economy and reduce cash-based transactions.
The service was developed in partnership with Banque du Caire, and is expected to play a key role in transforming the money transfer market in Egypt and the wider region.
The new service is now available for E& Cash wallet users in Egypt. Customers can instantly receive money from the UAE and Saudi Arabia using the company's digital payment apps.
They also have a chance to win up to EGP 1 million. The company plans to expand the service to more countries soon.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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