E-Finance, a national network for electronic payment, signed a protocol with Greater Cairo Water Company and Giza Water Company to activate the electronic payment for water bills in Cairo and Giza.
Ibrahim Sarhan, chairperson of E-Finance, said the protocol will serve a wide range of customers and ease the burden of collecting money, which has become easier through electronic payment methods.
E-finance is specialised in the field of electronic payment and money collection in cooperation with the Central Bank of Egypt (CBE) and the Egyptian banking sector in line with global trends.
The new deal comes in the framework of E-finance’s ambitious and continuous plan through its “Khales” system that provides bill collection services to citizens in a safe and easy manner, such as for water, electricity, gas, internet, and landline and mobile phones.
E-Finance offers electronic services through multiple payment channels in banks, post offices, and points of sale using credit, direct debit, and pre-pay cards (Visa or MasterCard).
Ahmed Moustafa El Shimy, chairperson and managing director of Greater Cairo Water Company, said the protocol comes in light of the company’s modernisation process of its infrastructure, as the company serves nearly 15 million users. The company decided to develop its bill collection system through this new service, “Khales”, that keeps pace with the replacement and renovation plan of water networks, he added.
E-Finance will settle the bills of both water companies in Cairo and Giza through the banks that will collect the money from customers. The system will also issue a number of follow-up reports to review payment data in the water companies and the Ministry of Finance.
E-Finance is a national company owned by government agencies, and it is specialised in payment and electronic collection. It settles the collected bills without a broker account according to the settlement mechanism approved by the CBE and the Ministry of Finance.