{"id":559854,"date":"2021-02-07T03:57:30","date_gmt":"2021-02-07T03:57:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/"},"modified":"2021-02-07T03:57:30","modified_gmt":"2021-02-07T03:57:30","slug":"banque-du-caire-to-establish-e-payments-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/","title":{"rendered":"Banque du Caire to establish e-payments company"},"content":{"rendered":"<p><strong>State-owned Banque du Caire will partner with an unnamed foreign investor to launch a <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0770e7-c013-42e2-808c-1fba56e50e7f\">planned<\/a><\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/da0770e7-c013-42e2-808c-1fba56e50e7f\">e-payments company<\/a><\/strong> in which it will hold a majority stake, head of investments at the state-owned bank Mohamed Ragai told <a href=\"http:\/\/tinyurl.com\/1mfuovbx\">Al Shorouk<\/a>. Ragai provided no further details on the planned e-payments arm. The bank received central bank approval for its e-payments license application late last year, and established a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6f7ef27d-17ef-439a-a5f2-f8930903ef76\">remittance transfer service<\/a> with Fawry shortly after.<\/p>\n<p><strong>Investment plans:<\/strong> Banque du Caire plans to invest USD 2 mn in its <a href=\"https:\/\/enterprise.press\/stories\/2019\/09\/18\/ugandas-central-bank-gives-egypts-bdc-green-light-to-buy-out-cairo-international-bank\/\">Uganda branch<\/a>, Ragai said. The bank is also considering launching a number of investment funds for SMEs, and plans to continue investing in leading stocks on the EGX, said Ragai.<\/p>\n<p><strong>Still no word on the IPO:<\/strong> Ragai made no mention of the bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ecd08cf1-104d-4060-82d5-98474da9b41c\">potential IPO<\/a>, which was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/16cadf64-eef3-4dee-969e-1a375d16e31c\">scheduled for last year<\/a> but postponed indefinitely due to unfavourable market conditions caused by covid-19.<\/p>\n<p style='font-size: 18px;font-weight: bold' >EFG Hermes subsidiaries partner up to offer finance to merchants<\/p>\n<p><strong>EFG Hermes subsidiaries launch merchant financing program: <\/strong>Corp-Solutions will offer factoring services to ValU merchants under a new program the two EFG Hermes subsidiaries launched on Thursday, the investment bank announced in <a href=\"https:\/\/ent.news\/2021\/2\/EFG-NR-valU-CorpSolutions-Partnership-ENG.pdf\">a press release (pdf)<\/a>. Merchants who have been customers of ValU for more than a year will be granted access to finance ranging between EGP 50k and EGP 10 mn, which they can use to finance working capital and make capital investments. ValU \u2014 EFG Hermes\u2019 fintech arm \u2014 uses AI to assess credit profiles and set a pre-approved limit, enabling it to authorize the transaction within 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned Banque du Caire will partner with an unnamed foreign investor to launch a plannede-payments company in which it will hold a majority stake, head of investments at the state-owned bank Mohamed Ragai told Al Shorouk. Ragai provided no further details on the planned e-payments arm. The bank received central bank approval for its e-payments [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":559855,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9298],"tags":[7094,204,2372,726,84,820,72,3340,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-finance","tag-ai","tag-banking","tag-banking-finance","tag-banque-du-caire","tag-efg-hermes","tag-efg-hermes-corp-solutions","tag-enterpriseam","tag-uganda","tag-valu","wpautop","entry"],"acf":{"mongo_id":"46ca8852-f08f-4f3b-a264-51408b1d912b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/113.jpg","photo_position":"above","related_issue":[559837],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Banque du Caire to establish e-payments company - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banque du Caire to establish e-payments company\" \/>\n<meta property=\"og:description\" content=\"State-owned Banque du Caire will partner with an unnamed foreign investor to launch a plannede-payments company in which it will hold a majority stake, head of investments at the state-owned bank Mohamed Ragai told Al Shorouk. Ragai provided no further details on the planned e-payments arm. The bank received central bank approval for its e-payments [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-07T03:57:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/113.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banque du Caire to establish e-payments company\",\"datePublished\":\"2021-02-07T03:57:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/\"},\"wordCount\":260,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/113.jpg?fit=%2C&ssl=1\",\"keywords\":[\"AI\",\"banking\",\"BANKING + FINANCE\",\"Banque du Caire\",\"EFG Hermes\",\"EFG Hermes Corp Solutions\",\"EnterpriseAM\",\"Uganda\",\"ValU\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/banque-du-caire-to-establish-e-payments-company\/\",\"name\":\"Banque du Caire to establish e-payments company - 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This will include a planned USD 5 mn capital increase in BdC majority-owned\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565943,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/18\/banque-du-caire-to-launch-its-tally-e-payments-arm-by-year-end\/","url_meta":{"origin":559854,"position":1},"title":"Banque du Caire to launch its Tally e-payments arm by year-end","author":"enterpriseam admin","date":"18 May 2021","format":false,"excerpt":"State-owned Banque du Caire will roll out its new e-payments arm, dubbed \u201cTally\u201d, by the end of this year, a source familiar with the matter at the bank told Enterprise. The bank has finished setting up the new entity and already obtained the necessary approvals from the Central Bank of\u2026","rel":"","context":"In &quot;SPEED ROUND: BANKING&quot;","block_context":{"text":"SPEED ROUND: BANKING","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573316,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/bdc-studies-license-to-accept-pos-payments\/","url_meta":{"origin":559854,"position":2},"title":"BdC studies license to accept POS payments","author":"enterpriseam admin","date":"28 July 2020","format":false,"excerpt":"Banque du Caire may apply for a license to accept POS payments as part of its strategy to expand its digital services, Chairman Tarek Fayed said, according to Hapi Journal. The state-owned bank, which is lined up to IPO in the stalled state privatization program, has recently rolled out mobile\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599910,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/banque-du-caire-to-allow-credit-card-and-loan-repayments-at-fawry-outlets\/","url_meta":{"origin":559854,"position":3},"title":"Banque du Caire to allow credit card and loan repayments at Fawry outlets","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"Banque du Caire will now allow credit card payments and loan repayments to be done at Fawry outlets, Banque du Caire CEO Tarek Fayed said, according to a local source. This will facilitate the repayments of loans and bills without needing to have a bank card. Loans that can be\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576376,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/fawry-and-banque-du-caire-sign-contract-for-remittance-transfer-service\/","url_meta":{"origin":559854,"position":4},"title":"Fawry and Banque du Caire sign contract for remittance transfer service","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"EGX-listed e-payments platform Fawry and Banque du Caire have signed a contract to set up an instant remittance transfer service through Fawry outlets, Fawry CEO Ashraf Sabry told Al Mal. The Central Bank of Egypt approved Fawry\u2019s request to set up a remittance transfer service with a local bank last\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601226,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/banque-du-caire-close-to-issuing-450k-meeza-debit-cards\/","url_meta":{"origin":559854,"position":5},"title":"Banque du Caire close to issuing 450k \u201cMeeza\u201d debit cards","author":"enterpriseam admin","date":"21 February 2019","format":false,"excerpt":"Banque du Caire has begun issuing \u201cMeeza\u201d debit cards, CEO Tarek Fayed said, according to Al Mal. The state-owned bank plans to issue 450,000 cards this year, Youm7 reports. Banque Misr and the National Bank of Egypt\u00a0began issuing the state-backed debit card last month. The central bank had said last\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559854"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559854\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559855"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559854"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559854"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}