Egypt: Companies device alternative pay methods for electricity

The North Cairo Electricity Distribution Company and the National Bank of Egypt have inked an agreement this week to allow citizens to pay electricity bills online using visa cards.

This has further involved bank technology payments and electronic payments company Fawry to also sign agreements to collect payments for the latter in Cairo and some parts of Qalyubia.

North Cairo Electricity Distribution Company, Chair Mohamed Rahim, disclosed that subscribers will also have the option to pay their monthly electricity bills at company payout point stationed throughout the country, without having to register with corresponding Fawry payment centres.

The use of such new measures facilitates easy payments of bills for subscribers, especially those who are constantly away form their official residential place.

Four million subscribers have registered with North Cairo Electricity Distribution Company and will be responsible for commission bills of between EGP 1 and 5 respectively.

The agreement stipulates that Fawry will deposit the total value of bills collected into a bank account belonging to the North Cairo Electricity Distribution Company, one day after such bills have been collected.

An initial EGP 50,000 letter of guarantee will first be provided by Fawry to the Distribution Company.

The agreement also stipulates that Fawry’s name will be written on all electricity bills belonging to the Distribution Company, in exchange for 10 percent of the value of commission received by Fawry from subscribers.

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