Complex Made Simple

e-Finance announces its participation in Cairo ICT 2014

e-Finance – the national digital network for financial transactions – announced its participation in ‘Cairo ICT 2014’, held at the Cairo International Conference Center.

The company also announced its cooperation with Cairo ICT to launch PAFIX – the first e-payment and financial inclusion forum – held in parallel with the exhibition. It is scheduled that the forum, sponsored by e-finance, will tackle some of the most prominent e-payment issues.

Among these issues are:
•Financial Inclusion – An engine for growth and prosperity
•The development and operation of an enduring framework for end-to-end electronic payment process
•E-payment: a means to fight corruption
•Critical intelligence for the global payments industry
•Who will emerge as a game-changer in the mobile banking and payments race?
•What is driving the transformation of the payments and digital banking ecosystems?
•Steps to achieve customer service excellence through digital platforms?

Haitham Tarabik, Strategies and Business Development at e-Finance, stated: “He thought about launching a forum for payments and financial inclusion a year ago. This comes in the framework of e-finance’s leading role in supporting and developing the digital payment system in Egypt.” He added: “Cairo ICT is the best and most convenient platform to launch this forum. The company participates in Cairo ICT with 3 booths to showcase its services and projects. These services include ‘Pension Card’, ‘Rationalization of Subsidizing Petroleum Products’ project, e-fawateer (e-bills) for collecting small payments, the center of issuing cards, (CPS), automation of government salaries e-payments, governmental Accounting management system responsible for the preparation of the budget and monitoring and controlling government expenditure as well as the electronic system for taxes and customs collection via banks.”

Tarabeek added that the participation of the ‘General Authority for Social Security and Pension’ with the ‘pension disbursement via ATM cards’ system in the exhibition. It will showcase all kinds of pension disbursement services. These services allow pensioners to disburse their financial dues, which has become mostly done via ATM cards. This is considered an important indicator of the state’s interest in the concept of financial inclusion and its importance to support the Egyptian economy.

Eng. Ibrahim Sarhan, e-finance Chairman, will discuss the future of e-payment system in Egypt as well as its growth rates. This comes in the framework of e-payment national project, sponsored by Ministry of Finance and the Egyptian Central Bank. This aims at excluding all traditional methods of payment and collection. This comes in the framework of the expectations that the growth rates of e-payment in the Egyptian market will multiply in the coming period.