Maait: Transferring 1.2 million government cards during February, March and April 2021
The electronic payment and collection system aims to save 25% of the cost of issuing the currency
Dr. Mohamed Maait, Minister of Finance, said that the ministry will finish, next December, transferring all electronic government cards to disbursing workers’ entitlements in the country to the developed national payment cards known in the media as “Meeza cards” that are secured with contactless smart chips.
Meeza Cards provide cash withdrawal, deposit and transfer services from ATM machines, electronic purchase via the Internet, electronic points of sale (POS), and electronic payment of government dues through the government electronic payment and collection system.
The minister added that the experimental phase of converting electronic government cards to pay the state’s employees’ dues to the developed national payment cards began in 2020, and challenges were overcome, before the official launch in February.
He explained that during February, March and April 2021, it is targeted to convert about 1.2 million electronic government cards to pay the state’s workers’ dues into “Meeza” cards in cooperation with banks: “Egypt, Al-Ahly, Development and Housing, Arab African International, the Emirates Dubai National Bank, Cairo, and the Arab Foundation. Banking, the United Bank, and the International Commercial », the National Postal Authority, and the accounting units in the administrative authorities.
“Maait” indicated that the current cards for the payment of state employees’ dues will not be stopped until after the national “Meeza” payment cards are activated.
He said that the developed national payment cards “Meeza” are the latest technological card in the world, and they offer many benefits to the state’s workers, including the availability of the “salary advance” service for government salary cards “Meeza” for free for a period of 6 months from the start of operating these cards, equivalent to 30% of the value of the salary, so that it is used only in the procurement processes, whether through points of sale or websites, as this service does not allow cash withdrawals through ATMs or bank branches.
“Maait” added that the amount used from the “advance salary” service in the purchase process is deducted from the salary of the next month directly. Imad Abdel Hamid, head of the finance sector, who supervises the electronic payment and collection unit at the Ministry of Finance, said that the ministry had started implementing the digital transformation project in government financial transactions since 2007, in a way that would contribute to the integration between fiscal and monetary policy and the achievement of “Egypt Vision 2030”.
He added that the Ministry of Finance was keen to build the electronic system with well-established rules, through many ministerial decisions and periodic books, with attention to the technological structure of devices and means of communication, establishing databases, systems for managing electronic payments and collection, and also paying attention to training human resources and qualifying them to deal With the latest automated systems, in light of the Non-Cash Payments Organization Act
Dalia Fawzy, Director of the Electronic Payment and Collection Unit at the Ministry of Finance, indicated that all observations were avoided and challenges that were exposed in the two experimental stages of the project that were launched in Cairo and the governorates during the year 2020 were avoided, and the official launch was decided in February, so that by the end of next December, the completion From transferring all electronic government cards to pay the dues of state employees to the developed national payment cards known in the media as “Meeza Cards”.
She said that the electronic payment and collection system aims to save about 25% of the cost of issuing the currency, and about 50% of the time for performing the service, and reducing the procedures. This will reflect positively on Egypt’s ranking in international indicators, especially those concerned with measuring the competitiveness of countries in the areas of ease of doing business and transparency, which are based on three axes: “cost, time, and procedures,” and then contribute to increasing employment rates, growth of national income, and reducing inflation.
The article “Al-Maliya” will finalize the conversion of electronic government cards into “merit cards” next December, and it was written in the Al-Borsa newspaper.