Last week, the Agricultural Bank of Egypt (ABE) launched its mobile wallet, Agri Phone, to facilitate the usage of banking services, in cooperation with e-finance and Progress Soft.
This new service allows the use of a mobile phone in order to deposit and withdraw funds in the wallet account, as well as instantly transfer funds between mobile phone wallets in local currency round the clock.
The service also allows the payment of government bills, such as utility bills, mobile bills, tuition fees, as well as payment of real estate tax. Clients can also check their balance and account history at any time.
Furthermore, the function was launched for the bank’s customers and non customers with a minimum age of 16-years-old and it is available on all four mobile operators, Vodafone, Orange, Etisalat, and WE.
According to the ABE’s Chairperson, ElSayed Elkosayer, the bank aims to make new payment channels available via mobile phones, in line with the technology and latest global solutions which are also compatible with the operational rules of the Central Bank of Egypt (CBE).
Elkosayer added that the bank also aims to achieve the objectives of the CBE, which seeks to make use of all financial services available to various groups of society, its institutions and individuals, to be able to achieve stability and increase the number of customers within the banking system, as well as reduce the use of cash in order to reach a cashless society.
According to Ibrahim Sarhan, chairperson of e-finance, the company and the ABE are working together to facilitate the community’s transformation, and expand the circle of beneficiaries from technological services, through introducing new services to consumers with the purpose of spreading financial inclusion and transforming into a digital society.