The Central Bank of Egypt (CBE) and the Ministry of Transport signed a cooperation protocol to modernize the electronic payment system in the transport sector.
The three-year protocol was signed between Central Bank Governor Tarek Amer and Transport Minister Kamal Al-Wazir.
The protocol aims at providing e-payment services in the sector within the framework of implementing a strategy adopted by the National Payments Council led by President Abdel Fattah El-Sisi.
The statement pointed out that this step comes in the implementation of the Egyptian government’s strategy toward digitization, and financial inclusion to facilitate the provision of various services, including transport, to citizens.
Under the three-year protocol, the Bank will offer all necessary technical consulting and backing as far as the application of public transport smart cards and unified tickets are concerned, the statement concluded.
Under the protocol, the Bank will provide all necessary technical advice and support regarding the application of smart cards for public transport and unified tickets.