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Egyptian company to spread banking credit cards
Egypt, Business, 4/14/2000
Many Egyptian banks started establishing a private company to spread bank credit cards with a capital of $2 million, in which the Egyptian I.T. company for investment contributes 45% of the capital, while the VISA international front contributes 20%, the Egyptian banks which issue visa cards in Egypt contributes 30%, and the supporting and decision-making center affiliated to the Cabinet contributes 5%.
The new company will establish the basic technological infrastructure of the modern banking services and present cards for the electronic pay services for banks working in Egypt, as well as cooperation with the Egyptian government in order to increase the use of electronic money.
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