Wednesday, June 23, 2021
As part of its strategy to support financial inclusion and digital transformation, Orange Egypt Signs a Partnership Agreement with NBE in Preparation for Managing Orange Cash Services
Orange Egypt announced the signing of its partnership agreement with the National Bank of Egypt (NBE), in preparation to manage its Orange Cash services that is aimed at boosting Orange customers experience and ensuring customers’ access to the best secured and innovative services while paving the way for offering new attractive offers by utilizing the NBE’s wide range of services and capabilities in the Egyptian market.
The signing agreement, which was held at the National Bank of Egypt's headquarters, was attended by Eng. Yasser Shaker, CEO and Managing Director of Orange Egypt, Eng. Alaa Fahmy, Former Minister of Transport and Orange Egypt Board of Directors member, the company’s deputies and Vice Presidents, Mr. Noel Chateau, Mrs. Marwa El-Ayouti, Mrs. Rania Gharib, Mr. Emad El Sonbaty, Mr. Ahmed Metwally Head of Electronic Payment Department at Orange, as well as the company's leaders. And from the National Bank of Egypt’s side, Mr. Hisham Okasha, Chairman the National Bank of Egypt, Yahya Aboul Fotouh and Dalia El-Baz, Vice Chairman of the Board of Directors, and Karim Soos, CEO of Retail Banking at the Bank.
The partnership with NBE is a significant step that will enable Orange to benefit from the bank’s role and experience in managing the financial services in accordance with the rules of the Central Bank of Egypt and will hence contribute in the introduction of more advanced services and attractive promotions.
Orange Cash customers will continue to benefit from all the wallet services as being the easiest and fastest and more efficient way to complete all financial transactions effectively and remotely via mobile including services such as that of money transfer and deposit, balance recharge, payment of mobile, ADSL, electricity, water and gas bills, school and university fees, subscriptions to clubs and unions fees, insurance installments, purchasing cinema tickets, and donating to any charitable organization (NGO). Orange Cash app also allows its customers to purchase goods from merchants through QR code while completing their financial transactions through Orange branches, any Fawry outlet, or ATMs.
Elaborating on this occasion, Noël Chateau, Chief Transformation & Operational Efficiency Officer at Orange Egypt, said, “Partnering with such a huge, professional and globally reputable bank comes within the framework of our future plan that aims at presenting other services and new offers in accordance with the best financial methods and the latest technical means of mobile wallets products and services which will enable our customers to have a unique and outstanding customer experience across the Egyptian market.
"Collaboration with the National Bank of Egypt will also help us advocate the wide services and facilities provided by the Orange cash wallet, which will accordingly boost the growth of our customer base that are looking forward to more advanced and updated digital financial services that are being tailored and provided based on our international expertise in this field." Chateau added.
He explained: "We also believe that the partnership between two distinct entities in the ICT and banking sectors would support the efforts of the Egyptian state, which strives to achieve digital transformation and financial inclusion strategies, reduce cash transactions and facilitate electronic payment processes to ensure offering easier and safer services for Egyptians."
After signing the partnership agreement, Hisham Okasha Chairman of NBE underlined that this partnership between the National Bank of Egypt and Orange Egypt reflects the compatibility in the strategies of the two major entities to provide a better and more quality experience for the company’s customers by taking advantage of the advanced banking capabilities, especially the digital banking services provided by the National Bank of Egypt. Therefore, this contributes to achieving a paradigm shift aimed at enhancing Orange customer’s experience and ensuring full stability and customer access to the best integrated and fully secure service.
He also added that “the bank, through this partnership, aims to reach out to all members of society, which supports the bank’s strategy in financial inclusion to reduce cash transactions and shift to a cashless society. This came in line with the state’s plans in this regard through providing and developing products and services that attract new segments of citizens to deal with the banking system.
It is worth noting that the National Bank of Egypt is one of the most prominent banks that plays a key role in implementing the initiatives of the Central Bank of Egypt aimed at achieving financial inclusion. On the other hand, Orange Egypt substantially contributed to developing technological infrastructure, relying on smart solutions, and training and qualifying human resources, which doubled its financial inclusion services in 2020.