Mobile Payment Solution ‘Flous’ to hit Egypt, world’s first Arabic mobile wallet

MasterCard, National Bank of Egypt (NBE) in conjunction with mobile network Etisalat, are bringing the mobile payment wallet, “Flous” to Etisalat Egypt’s subscribers.

Using the Etisalat network, Flous can be deployed on any mobile phone and is being rolled out in phases. Phase one allowing subscribers to transfer money between each other, to load cash onto their phones or take cash out at either Etisalat branches (over 100) or over 300 NBE branches.

“Etisalat connects people from around the world, and we have developed some of the world’s most advanced networks by constantly adding value to the infrastructure. Mobile phones can be used for far more than calls and messages. In a world where smartphones and mobile browsing have become commonplace, it is only natural that mobile devices be used to conduct everyday transactions, especially with their current levels of penetration in the Egyptian market” said Eng. Saeed AlHamli, CEO, Etisalat Egypt.

The second phase will allow subscribers to pay bills through their mobile, top up mobile prepaid lines, and pay for goods and services at several merchants in Egypt, as well as conduct online purchases globally thanks to the MasterCard partnership.

Commenting on this landmark announcement, Mohamed Kamel Bayoumi, Managing Director, EBC said “We have chosen MasterCard to partner with us on this transformative mobile money program to benefit from their global experience as they have successfully implemented more than 30 such programs around the world. Our objective, together with the Central Bank and the Government, is to bring financial services to the fingertips of each and every Egyptian. This collaborative initiative will allow us to achieve that.”

Sherif Elwy, Vice Chairman of NBE, says that 65% of the Egyptian population lacks access to formal banking. This, combined with the penetration of mobiles across the country, makes mobile payment solutions not only the safest and most convenient way to conduct transactions, but also the most logical.

“Flous,” means “Money” in Arabic.