Last Friday, Egypt’s Minister of Communications and Information Technology, Amr Talaat, met with MasterCard Vice Chairman and President, Michael Froman. In the meeting, they discussed the possibility of turning the New Administrative Capital into the world’s first cashless city.
The meeting focused on various investment plans for the usage of MasterCard in Egypt through electronic payment and collection in governmental departments across the country.
Talaat added that “The aim is to encourage the e-commerce field and flourish the Egyptian economy, turning the Egyptian market into a regional hub for cross-world industry.” Also, the minister cited the projects that are being executed and implemented by the Ministry to facilitate the construction of a vigilant and prudent technological infrastructure, in collaboration with The Central Bank of Egypt.
Moreover, Froman demonstrated MasterCard’s vision regarding cooperating with Egypt in upholding the new Administrative Capital’s infrastructure, by means of providing advanced electronic payment systems and methods.
Furthermore, he stressed MasterCard’s commitment and adherence to its strategic partnership with Egypt when it comes to extending and maximising electronic payment technology. This will benefit the country’s developmental and economic goals over the coming years.