Egypt’s second biggest public bank, Banque Misr has signed on Sunday a cooperation protocol with startup Nexta to launch Nexta Application, which will offer Egyptians a distinguished and seamless banking experience.
The new app will provide users with the most innovative services and solutions that align with Egypt’s digital transformation strategy and promote e-payment systems.
Banque Misr has signed a cooperation protocol with startup Nexta to launch Nexta Application, which will offer Egyptians a distinguished and seamless banking experience on Sunday, June 18, 2023
Banque Misr has signed a cooperation protocol with startup Nexta to launch Nexta Application, which will offer Egyptians a distinguished and seamless banking experience on Sunday, June 18, 2023
The protocol will see Nexta offer its prepaid cards powered by Visa and issued by Banque Misr across the country side by side with its new application.
The protocol comes in line with Banque Misr’s strategy towards leading the future of e-payments and offering its clients an exceptional banking experience, said its chief consumer banking and digital payments, Ihab Dorra.
Banque Misr always aspires to keep up with the most up-to-date technological services that are at the forefront of the evolving banking scene in Egypt, Dorra added.
The bank believes that integrating digital transformation within the banking system will provide a more seamless user experience to the consumer and promote economic development as well as financial inclusion across the country.
The application, which will enable users to carry out secure and convenient financial transactions, is a key step towards promoting Egypt’s financial inclusion goals to decrease reliance on cash and secure safe, easy, and instant e-transactions.
Ibrahim Sarhan, eFinance’s chairman and CEO, said the group is committed to support and promote the latest e-payment applications and tools especially that it has a successful track-record of leading and expanding the electronic payment systems across Egypt.
He added that as the Egyptian market expands, e-Finance Group is proud to be a main contributor to introducing the new digital financial tools alongside Banque Misr, Visa, e-Cards, and the promising fledgling company, Nexta.
“Following the tremendous shift in consumers’ habits, Egypt has been witnessing unprecedented growth in cashless payments, creating the perfect window to leverage consumers’ appetite for personalised, digital products.” said Malak El Baba, Visa Country Manager for Egypt.
“We are very excited about this collaboration that reflects the essence of strategy to partner with stakeholders to drive the digitisation of payments in Egypt,”
Nashwa Kamel, CEO of e-Cards, stated: “At e-Cards, our mission is to empower banks and fintech companies with comprehensive, sustainable, and convenient digital payment solutions.”
“Through our commitment to delivering innovative technology, exceptional service, and strategic partnerships, we are transforming the way people transact and interact in the digital age. Together, we are shaping a future where convenience, security, and efficiency define the new standard of payment experiences.”
Ahmed Hisham, Nexta CEO, stated: “We are honoured to have signed this agreement with such great partners and we believe that this partnership will be mutually beneficial.”
Commenting on the launch, Ahmed Hisham stated: “We’re thrilled to introduce our new mobile banking app which we believe will revolutionise personal finance management. The app was made with users in mind. Our user-friendly interface and advanced security features shine above the rest in a crowded fintech market.”
Nexta seeks to provide a quality and accessible banking experience to everyone in Egypt, an experience that will level up its users’ way of managing their money. With its sleek user-friendly design, Nexta makes money tasks safer and easier through a card which is globally accepted and an application that provides a range of features from sending and receiving money, and different card top-up methods through linking other banking cards, via Fawry or through Banque Misr ATMs.
The application provides advanced security features, including biometrics. It adds an extra layer of security by enabling its users to freeze their Nexta card instantly at any given time.
With the launch, Nexta’s services will be available for all Egyptians to enjoy a newer and better digital banking experience.
