Cairo – Mubasher: eCards, a subsidiary of e-finance for Digital and Financial Investments, has inked a contract with Visa and Banque Misr to launch a new mobile banking application Nexta.
The app seeks to offer an enhanced banking experience for customers in Egypt, according to a press release.
This joint collaboration aims to secure new services and solutions that align with the digital transformation strategy in the Arab Republic. This is in addition to boosting electronic payment systems.
Under this agreement, Nexta will offer prepaid Visa cards issued by Banque Misr throughout the African nation, alongside the application. Meanwhile, eCards will handle the issuance, management, and operation of the cards.
Ibrahim Sarhan, Chairman of e-Finance, indicated that this partnership highlights the success of the group’s strategy that focuses on achieving synergy between all its investments and subsidiaries.
Ihab Dorra, Banque Misr Head of Branches and Retail Payments, commented: “The signing of this protocol aligns with our strategy towards leading the future of digital payments, providing exceptional banking experience for customers, and keeping up with technological services that are at the forefront of the evolving banking scene in Egypt.”
In the first quarter (Q1) of 2023, e-finance posted consolidated net profits after tax attributable to the owners valued at EGP 281.94 million, up 40.70% year-on-year (YoY) from EGP 200.32 million.
