The National Telecom Regulatory Authority (NTRA) has witnessed the signing of a protocol of cooperation between the National Organization for Social Insurance and the four Mobile Network Operators (MNOs) in Egypt: Vodafone, Orange, Etisalat and WE, with the aim to enable and facilitate pension disbursement through mobile wallets. The signing ceremony took place at NTRA premises, in Smart Village.
This is within the framework of Egypt’s keenness to create a cashless society and promote the use of electronic payments, and as part of NTRA role in facilitating the provision of services that meet the needs of citizens and support financial inclusion and digital transformation.
Pursuant to the protocol, as of August 2021, beneficiaries will be able to collect their pension through mobile wallets. Pensioners only have to visit the nearest branch of their MNO to create a digital wallet and sign the pension disbursement request, while the National Organization for Social Insurance and the MNOs will take care of the rest of the procedures.
The protocol builds on the continuous and productive cooperation between NTRA, the Central Bank of Egypt (CBE) and the National Organization for Social Insurance, and comes within the framework of implementing the protocol signed in March to facilitate pension disbursement through digital channels.
Digital wallets help cover the financial and banking needs of beneficiaries, and allow the use of the available balance in different services, including cash withdrawal, money transfer, payment of government charges and utilities bills, as well as payment of purchases through electronic points of sale (EPOS), online shopping on websites and mobile applications, or through using a QR code.
