The National Bank of Egypt reveals the details of the payment system via the techniques of”QR Code”

The Central Bank issued a statement with new standards to accept electronic payments, through technical الـQR Code, which is an easy and secure way to organize and accept payments electronically without the need for point of sale (POS) traditional.

And about the resolution, said hazem hegazy, head of Retail Banking at National Bank, said that the decision of the Central Bank issued during the last hours to apply the new standards to accept electronic payments via a technology الـQR Code, is a way to facilitate the lives of citizens and merchants in the payment processes and reduce the reliance on cash, explaining that the payment methods in Egypt is about 4 means: payment in cash or by disaster or bank check or by online payment.

Added hijazi, in an intervention Telephone program “night online” broadcast over the radio, tone FM, that the new medium added by the Central Bank, will be the phrase for the sticker adhesive will be placed by each dealer next to the machines the”POS” -machines to withdraw money from the disaster Bank – the client opens the application belonging to the Central Bank and his smart phone on the sticker the QR Code and pay through the withdrawal value of the procurement directly from the client’s account.

With regard to the new application, he explained hijazi that the Central Bank will apply a new consolidated special activated operations of the house through الـQR Code, and run through all the banks, pointing out that Egypt, where 28 banks, but 6 of them only had POS machines electronic payment, explaining that the new mechanism will allow all banks operating in the local market to enter the payment via الـQR Code, including companies, visa and MasterCard.

According to the Central Bank the uniform standards would apply to all banks licensed to accept payments electronically in Egypt, will become the new technical trader and the consumer the implementation of the payment processes and electronic exchange of goods and services by scanning a QR code (QR Code) which displays the following in the phenomenon in front of its clients, keeping data following the client enter the amount to be repaid on the mobile phone, to be paid directly to your merchant account with send an instant notification to both parties to complete the process.

As for the grace period which was granted by the Central Bank to the banks to activate the new system, explained hijazi, it’s a period to evaluate each of the banks the processing of its infrastructure and technology to deal with the new system, stressing that other payment methods will be activated and will not be stopped, but the new mechanism is an additional means and in the granting of new tests for electronic payment in Egypt.

It is worth mentioning that a QR code (QR Code) is a code definition of “barcode” two-dimensional readable via mobile phone applications, and advanced technology within their use to facilitate the payment process and financial analysis using a mobile phone at the point of sale.

The program “night online” the largest radio program specialized in communications and technology, and goes on Sunday and Thursday on the radio station tone FM Nagham FM from 4 to 5 pm, and Tamer Imam gave Mr. one of the area and the immortality of the rare, and the production company, POD, in partnership with promoted.

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