MasterCard, National Bank of Egypt and Etisalat have announced the launch of the mobile payment wallet in Egypt. The program target 94 million mobile users market and represents the world’s first ever interoprable Arabic mobile money program.
“Flous”, which means money in Arabic, will use the Etisalat mobile network and can be deployed on any mobile phone. Just like Mpesa in Kenya the first phase of this program will allow subscribers to transfer money to anyone participating in the service using their mobile phones, and to load cash on their phones or take out cash through over 100 of Etisalat’s branches and 305 of NBE’s branches across Egypt. . The second phase of the program will allow subscribers to pay their bills through their mobile phones, top up their mobile prepaid lines, and pay for goods and services at several merchants’ locations in Egypt, in addition to using it for e-commerce payments globally.