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Vodafone Egypt Signs a Partnership Agreement with ALEXBANK to Provide Mobile Money Transfer via its Vodafone Cash Solution

CAIRO - 19 November 2017: Vodafone Egypt has signed a partnership agreement with ALEXBANK to support Vodafone Cash Mobile Money Transfer. This new strategic partnership aims at further developing interactive services for Vodafone customers contributing to provide innovative financial solutions. The agreement enables Vodafone Cash customers to enjoy a complete portfolio of financial services featuring easy, convenient, and safe payment services directly via their mobile phone, through the MasterCard network.

The agreement was signed by Stefano Gastaut, Vodafone Egypt CEO, and Dante Campioni, Managing Director and CEO of ALEXBANK.

The signing ceremony was attended by Vodafone and ALEXBANK's management; Ayman Essam, External Affairs and Legal Director, Karim Shehata, Consumer Sales Director, Noha Saad, External Communications Senior Manager at Vodafone Egypt and Sherif Lokman, Head of Retail Banking and Small Business at ALEXBANK.

Karim Shehata, Vodafone Egypt Consumer Sales Director stated that this new partnership with ALEXBANK is an imperative step towards the development of mobile e-payments system in Egypt. “It marks an important move towards a substantial increase in the use of mobile payment services in Egypt, anywhere and at any time, even during vacations and official holidays. Customers can also deposit or withdraw cash from ATMs after receiving required monetary approval.”

Shehata highlighted that the ease of “Vodafone Cash” e-wallets represents a successful technological model that works to fulfill customers’ needs and facilitate their daily lives. “Such partnerships will work to transform Egypt into a cashless community,” he stressed.

Sherif Lokman, Head of Retail Banking and Small Businesses at ALEXBANK, said "We are glad with this agreement and of the cooperation established between Vodafone and ALEXBANK, which allows Egyptians to enjoy state of the art technological solutions to accede financial services.

He elaborated that the collaboration with Vodafone Egypt will facilitate ALEXBANK customers and non-customers’ base to access basic financial transactions, in line with its financial inclusion strategy, set alongside the Central Bank of Egypt guidelines.

Lokman emphasized that ALEXBANK supports the expansion of electronic banking services, on top of which come “Digical” the bank’s internet banking service and “Ma7fazty” ALEXBANK‘s electronic wallet solution, which are recording steady and strong growth amongst its customers. He also added that ALEXBANK does not see any conflict between the own products development and the support to “Vodafone cash” wallet, as the market potential is extremely wide and the approach to the respective customer base follow different logics. In this phase our priority is to reach more people and serve the objective to achieve a better financial inclusion favoring the decrease of cash settlements" he concluded.

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