Banque Misr has signed an agreement with the leading real estate developer, Tatweer Misr, to provide e-payment solutions across the latter’s smart city projects, Invest-Gate reports.

The solutions will be deployed at Monte Galala on the Red Sea, Fouka, and D-Bay on the Mediterranean’s north shore, Bloomfields in East Cairo, and Rivers in New Sheikh Zayed City.

This aims to transform the communities into cashless societies with secure, convenient digital transaction services meeting the highest living standards.

The projects involve residences and commercial and entertainment facilities currently under construction or planning across Egypt.

The tie-up affirms Banque Misr’s leadership in powering technological financial inclusion within integrated urban developments, a company statement said.

It offers residents a range of apps and services for contactless spending on utilities and retail as Tatweer builds innovation-focused real estate.

Banque Misr saw a 91% year-on-year spike in e-payments in 2022 through steady point-of-sale, website, QR code, and e-wallet access expansions.

The collaboration comes as Tatweer executes a strategy centered on sustainability, quality, and contemporary services matching Egypt’s growth.