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Egypt: Mastercard Launches Masterpass in Egypt
Source: 12/18/2017

Contributing to the growth of the e-commerce sector in Egypt, Mastercard, a leading technology company in the global payments industry, has launched its global digital payment service Masterpass in Egypt.

As a simple, convenient and trusted digital payment service for faster & safe shopping at thousands of online retailers in Egypt, Masterpass will allow consumers to make intuitive and secure purchases across devices, channels and borders from a single trusted solution.

Currently, more than 6 million existing mobile wallet users in Egypt can use Masterpass through their existing wallets, with instant access to more than 360,000 merchants on the global Masterpass acceptance network.

“E-commerce is a fast-growing sector in Egypt and the launch of our Masterpass service in the market is a timely solution that will leverage the massive growth in this segment to drive the country’s digital agenda and inclusive development,” said Magdy Hassan, Mastercard General Manager Egypt & North Africa.

“Masterpass is a revolutionary payments technology that reinforces Mastercard’s financial inclusion efforts in the country.

By bringing Masterpass to Egypt, we are helping shape the country’s technology infrastructure by making it globally interoperable, without compromising on the trust our customers & end users have come to place in Mastercard.”

As part of Egypt’s new national e-commerce strategy announced earlier this year, the Government of Egypt aims to increase the contribution of e-commerce to the country’s GDP and double the number of businesses currently selling online by 2020.

Related Categories: Accounting, Statistics  Economics/Financial Analysis  General  Insurance 

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