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For the first time in Egypt, and in collaboration with HDB, Vodafone Launches Money Transfer Service via Mobile
The fastest and easiest way to deposit, withdraw and transfer money using the most advanced mobile technology to ensure secure transactions
Hatem Dowidar: Our goal is to provide innovative and secure financial transactions to serve a large segment of the society, especially those who do not have bank accounts
Fathy El Sebaai: The service is a modern alternative to financial and bank transactions and complies with the Central Bank of Egypt’s policies
Cairo, June 13th 2013 – For the first time in Egypt and in cooperation with HDB, Vodafone launched “Vodafone Cash”, a service whereby customers can transfer money via their mobile phones. Vodafone had acquired the approval of the NTRA to become the first mobile operator to launch this service in the Egyptian market, complying with the Central Bank’s policies and using the most advanced technology that allows for easy operation of the service and with the highest security measures to ensure customers’ rights.
Vodafone Cash is a service for Vodafone customers allowing them to quickly and securely make money transfers using their mobile phones. To activate this service, the customer goes to any of the Vodafone stores located in all governorates to register and deposit an amount to his account. In a matter of seconds, this amount will have been transferred to any other Vodafone branch upon registration, as per the Central Bank regulations.
Hatem Dowidar, CEO and Managing Director Vodafone Egypt, stated during the press conference announcing the launch of the service “Vodafone management is proud to be the first mobile operator in Egypt to offer money transfer services via mobile phones, and in cooperation with HDB”.
About the bank’s role in the launch of this service, Mr. Fathy El Sebai, Chairman and Managing Director Housing and Development Bank, stated “we are pleased to be the first in Egypt to provide the technical support required to launch this unique service in the market in collaboration with Vodafone to ensure its success and amongst the customers.” He added that the bank possesses the best and most qualified labor force, and particularly the specialized experts who saw this unique deal with Vodafone Egypt through.
A maximum transferable amount has been specified by the Central Bank and the NTRA, with no more than 3000 EGP daily at 1000 EGP per transaction, and a maximum of 5000 EGP per month.
This service represents a massive development in the money transfer sector in Egypt whereby customers can easily make money transfers through any of the Vodafone branches spread across the country and at any time. For now, this service is only available at Vodafone branches; however, it will later be available through trusted agents and distributers to facilitate the service for our clients and make it available around the clock and during national holidays to ensure customer fulfillment at all times.
It is worth noting that Vodafone worldwide has previously launched similar services in Tanzania and Kenya where it witnessed great success and positively impacted the economic and social environments of those markets.
Media inquiries: Public.Relations@vodafone.com
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Noha Saad Media & Public Relations Senior Manager Noha.Saad@vodafone.com
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