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MasterCard Launches Egypt’s First Mobile Acceptance Service

MasterCard has launched Egypt’s first mobile-enabled acceptance service that will allow ‘Phone Cash’,‘Flous’ and any future users of MasterCard mobile ecosystem to pay for goods and services at merchant locations across Egypt using their mobile phones.

To benefit from this service, NBE’s customers can download the ‘Phone Cash’ mobile application on their handset or use the ‘Flous’ interface if they are Etisalat Egypt customers. In order to pay, the users will simply need to enter their mobile pin number, the merchant’s ID number and the amount to pay into their phones.

With the launch of the new service, both banked and unbanked consumers in Egypt can now experience the benefits of conducting cashless transactions with the power of their mobile phones. The service is faster, more convenient and more secure as it eliminates the hassle and risk of carrying cash. The mobile wallet can be remotely disabled by the customer’s bank if the phone gets lost or stolen.

The mobile merchant payment service is the first in the region to use the MasterCard payment infrastructure and is now available at various merchants throughout the country.