The easy-payment service, offered by several banks in
Shawky said that
Despite the novelty of the service,
“We have 30,000 customers using the mobile service as a means for electronic payments," he said. "This is a small number but in a short period of time.”
Nagy added that the existence of multiple accounts for a client does not preclude the bank from granting the client the service. There are also currently "no specific outlets" who take advantage of the use of the mobile technology as a means of payment.
Rushdi Saleh, a banking analyst at
Saleh explained that banking operations are not developed, so the culture of using modern tools for banking in
“Egyptians prefer cash with the exception of a very small class of individuals who use these services,” he said. The proof of this, Saleh said, is that there are no more than 20m bank accounts across the country. Of this figure, 40% see limited use as a means to receive pensions and transfer funds, whether domestically or abroad, with “less than 1%" using the new technology.
Some, however, find mobile cash a very useful service.
Despite his preference for mobile payments, Khaled said: ”Using mobile banking in settling financial transactions is a good thing, but we still face the issue of shops refusing to deal with this as a payment method.”
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