Egypt’s New Administrative Capital Plans to Apply Electronic Payments Only

Last Friday, Egypt’s Minister of Communications and Information Technology, Amr Talaat, met with MasterCard Vice Chairman and President Michael Froman to discuss the possibility of going cashless. The minister announced future plans to turn the New Administrative Capital into the first cashless city.

The minister plans on cooperating with MasterCard’s global expertise in the field of electronic payment technology for a successful experience of applying electronic payments only. The decision is part of the country’s endeavor to support financial inclusion.

The meeting focused on investment plans for MasterCard in Egypt in the field of electronic payment and collection in the governmental departments. Talaat added that the move could encourage the e-commerce, turning Egypt into a regional hub for such cross-world industry and the mounting global growth for these trade activities.

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