In the presence of Eng. Yasser Elkady, Minister of Communications and Information
Technology; The Information Technology Industry Development Agency (ITIDA) and
Mastercard have signed a memorandum of understanding (MoU) to apply electronic
payments platforms and promote a cashless culture at technology parks and smart villages
The memorandum of understanding was signed by Ms. Asmaa Hosni, ITIDA CEO, Mr.
Khalid Elgibali, Division President – Middle East and North Africa, Mastercard, on the
sideline of the 20th round of CAIRO ICT on November 27th 2016.
Eng. Yasser Elkady, Minister of Communications and Information Technology stated that
the Ministry and its subsidiaries are continuously working to further drive financial inclusion
in the country through providing various payment options while enhancing payment
efficiency, increasing financial literacy and ensuring business efficacy. The Minister also
praised the goals of the MoU signed between ITIDA and Mastercard that supports electronic
payment innovation while affirming that the Ministry endorses entrepreneurship in this
field through its various programs.
The MoU aims to forge joint efforts between both parties. Accordingly, Mastercard will
provide digital payment services to create cashless payment experiences for all businesses.
At the same time, ITIDA will support this initiative by encouraging smart villages and
technology parks to digitalize and provide their services online for all tenants. The latter
will ensure faster, safer and more transparent services to all clients. Thus a number of
electronic payment tools will be available for small and medium enterprises (SMEs) to
enhance their businesses, such as the application programing interface (API). SMEs will
also be encouraged to benefit from Mastercard electronic payments’ experience through
participation in training programs hosted by ITIDA, while enabling them to access
Mastercard Online Payment Gateway.
“We are delighted to work with Mastercard to promote electronic payments and create
cashless societies at technology parks. We also aim to achieve our vision of participating
in the development of the local economy. ”, said Asmaa Hosny, ITIDA CEO. “The
infrastructure for digital payment in technology parks locations will be developed to
empower and facilitate electronic payments for ITIDA’s clients. Tenants will be able to pay
business license fees/renewals, including tax payments online. The MoU also includes
equipping all transportation buses within the technology parks with mobile money
“Innovation is at the heart of Mastercard’s philosophy. By underpinning innovation in our
products and solutions, we are driving positive change as well as transforming the way
people pay and get paid, helping businesses grow, and advancing financial inclusion”, said
Mr. Khalid Elgibali, Division President – Middle East and North Africa, Mastercard. “Our
collaboration with ITIDA represents another significant milestone in our efforts to create
cashless Egypt by leveraging on our extensive experience.”